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Golden Boy Issues Final Offer For Canelo vs. GGG Rematch

In the new world of boxing transparency, promoters feel the need to expose the deal-making within the game and now the tissue-thin chance that the world will see Canelo Alvarez vs. Gennady “GGG” Golovkin 2 is being further exposed.

Golden Boy Promotions, the promoter for Saul “Canelo” Alvarez (49-1-2, 34 KOs) is tired of waiting for unified middleweight world champion Gennady “GGG” Golovkin to finalize a deal for their rematch.

According to ESPN’s Dan Rafael, Golden Boy president Eric Gomez told ESPN on Tuesday that the company has issued Golovkin and K2 Promotions managing partner Tom Loeffler, an improved final offer and that he has until 12 p.m. PT on Wednesday to accept the offer for the HBO PPV main event on Sept. 15 at the T-Mobile Arena in Las Vegas, or walk away from perhaps the biggest money fight in boxing.

HBO Boxing’s Best 2017: Canelo vs. Golovkin

Relive this year’s middleweight war between Canelo Alvarez and Gennady Golovkin. HBO celebrates boxing’s best of 2017 by featuring the year’s most unforgettable fights, with different bouts airing every night from Dec. 26-29, 2017.

Gomez told ESPN the final offer is a 57-42 split in Alvarez’s favor, and if Golovkin doesn’t accept it they will continue working to finalize a deal for Alvarez to face former middleweight titlist Daniel “The Miracle Man” Jacobs on Sept. 15 instead.

“This is final,” Gomez said to ESPN. “We’ve been through everything. We’ve been through the hoops, the monkey bars, the slides. No more playing games. He has until noon (PT) to accept or walk away. If he walks away, good luck to him. We’ve gone above and beyond to make this fight happen. Canelo really wants to make this fight happen for the fans. (Golden Boy CEO) Oscar (De La Hoya) really wants to make it for the fans and everyone involved and we’re meeting him halfway.”

Alvarez and GGG fought to a highly disputed draw in September. Alvarez got the lion’s share of a 70-30 split.

Back in February, Alvarez failed two drug tests for the performance-enhancing drug clenbuterol and was suspended for six months by the Nevada State Athletic Commission. As a result, the rematch, scheduled for May 5 at the T-Mobile Arena, was canceled and the fighters traded harsh words in the media and via Twitter. 

Alvarez became the new laughing stock of the game with the revelation that his meat choice was the supposed cause of the Golovkin rematch cancellation.

Instead, GGG faced journeyman Vanes Martirosyan and destroyed him in two rounds. He made about $1 million for that fight. 

Satisfied with Alvarez signing up for year-round Voluntary Anti-Doping Association testing 24/7/365, GGG eventually agreed on a 65-35 split in Alvarez’s favor.

Golovkin (38-0-1, 34 KOs) had a change of heart and insisted on redoing the deal with a 50-50 split. 

Golovkin’s share was increased to 40 percent, but GGG stood firm, forcing De La Hoya to announce that the “Canelo train has left the station” and that he was moving on to try to close a deal for the fight with Jacobs (34-2, 29 KOs), who lost a highly contested fight with GGG via decision in March 2017.

Golovkin lowered his demands to 55-45, but Golden Boy would not budge.

“Our original deal in May for the rematch was 35 percent to Golovkin. Then they wanted 50-50, which was ridiculous to begin with,” Gomez said. “But in consideration, we’re willing to meet them halfway. I got off the phone (on Tuesday afternoon) with Tom Loeffler and told him you have 24 hours to accept or we are fighting Danny Jacobs.”

Classic Fights: Gennady Golovkin vs. Daniel Jacobs

Prepare for Canelo Alvarez vs. Gennady Golovkin by taking a look back at Golovkin’s UD over Daniel Jacobs in their March 18, 2017 bout. Canelo vs. Golovkin takes place Saturday, Sept. 16 live at 8 PM ET/5 PM PT on HBO Pay-Per-View.

Loeffler told ESPN that Golovkin is in Moscow to attend the opening ceremonies of the World Cup as a guest of one of his sponsors, so he was not immediately able to talk to Golovkin about the offer because of the time difference. But Loeffler said he was going to email him and follow up with a call when it’s Wednesday morning in Moscow.

“Gennady was very clear when he made the concession to come off 50-50. He really feels in his heart it should be an even split,” Loeffler said “He made the concession at 55-45. Gennady is the one who will make the final decision, so I will give him an update on it and see what he wants to do. My opinion is it’s the biggest fight in boxing and both sides should figure out a way to make it work.”

The first fight generated 1.3 million pay-per-view buys and a $27 million gate — the third-biggest in boxing history. Most project that a rematch would beat both figures and that Golovkin would earn more than $40 million. 

“Tom said he will talk to Gennady and see if we can get him to budge. He’s trying,” Gomez said to ESPN. “He’s been a gentleman to me through all of this. Basically, it’s an ungodly amount of money being offered to Golovkin that he will never see again if he walks away. He could make maybe 10 times more money for this fight than any other fight he decides to take. (Top Rank chairman) Bob Arum once said, ‘You can’t spend a percentage’ and he is right. Oscar and I have discussed it. He’s discussed it with Canelo and it’s been long enough. We’ve waited since early April to get everything back on track. We’ve had countless conversations. I think Canelo is being very reasonable, above and beyond reasonable, as well as Oscar. You can lead a donkey to water but you can’t make him drink.”

Golden Boy is quick to remind everyone that they remain in touch with Matchroom Boxing promoter Eddie Hearn, who represents Jacobs, and has kept him up to date on the situation.

“Eddie Hearn is anxious to get the fight done for Jacobs,” Gomez said to ESPN. “I have made him aware there is a possibility of a Golovkin fight because I don’t want to mislead him. But we’re within striking distance of being able to make the Canelo fight with Jacobs if Golovkin walks away.”

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