Saul “Canelo” Alvarez has long been seen as boxing’s fighting champion, but the saga of his latest career move serves as a stark reminder that he is, above all else, a prizefighter. Every major boxer before him, from Floyd Mayweather to Muhammad Ali, has, at one time or another, prioritized financial gain over any romantic notion of “saving” the sport. “Canelo” is no different — he’s just finally making it obvious.
This past week, over a span of 72 hours, Alvarez went from negotiating a potential showdown with Terence Crawford to considering a crossover spectacle against Jake Paul before ultimately signing a lucrative four-fight deal with Turki Alalshikh’s Riyadh Season, the latter of which includes a September bout with Crawford. While some hail his decision to turn away from the Paul sideshow as a righteous move that preserves boxing’s integrity, the truth is far simpler. “Canelo” is just taking the best financial deal available, as he should.
For years, Alvarez has been at the epicenter of boxing’s biggest fights, facing legends and rising stars alike. From his early battle with an undefeated Mayweather at just 22 years old in 2013 to becoming boxing’s first undisputed super middleweight champion of the four-belt era in 2021, his career was long defined by dominance and risk-taking. But with a legacy firmly established, Alvarez’s recent years signaled a shift toward what has always been inevitable: Business taking precedence over competition.
Alvarez’s ability to command massive paydays is nothing new. His $365 million DAZN deal in 2018 and stellar pay-per-view numbers throughout his career prove his drawing power. For more than a decade, Alvarez has been the undisputed centerpiece of two of boxing’s most celebrated dates: Cinco de Mayo weekend in May and Mexican Independence Day weekend in September. These dates, once synonymous with Mayweather and Oscar De La Hoya, became Alvarez’s domain to inherent, reinforcing his role as the face of boxing. However, met with declining buy rates and criticism over an underwhelming slate of opposition since his 2022 loss to Dmitry Bivol, “Canelo” hit 2025 approaching an undeniable crossroads.
His decision to now forego these traditional dates in favor of Riyadh’s deep pockets reflects a larger trend, one that is emblematic of the sport itself as Alalshikh continues to wield his gravitational might.
Boxing’s financial epicenter is shifting, and Alvarez, ever the businessman, is adapting.
But let’s be clear, Alvarez flirted intimately with hitching a ride onto Paul’s traveling circus. Had Alalshikh not swooped in late with an offer Alvarez couldn’t refuse, they’d very likely already be printing money for a Canelo vs. Paul event that would’ve enraged an entire sport. Had Alvarez chosen that route, it would’ve marked a pivotal moment where financial appeal definitively outweighed boxing’s competitive structure.
Paul’s rise has already blurred the line between entertainment and true competition, proving once again that a massive following can trump rankings and actual experience. The success of crossover fights like Paul vs. Tyson, Francis Ngannou vs. Tyson Fury and Conor McGregor vs. Floyd Mayweather only reinforces that boxing’s biggest paydays require no decorated résumé. Marketability is enough.
Alvarez opting to fight Crawford over Paul may appear to be a move in favor of boxing’s integrity, but in reality, it’s just a more traditional payday before the inevitable. The notion that Alvarez is somehow standing against the trend of spectacle fights is misguided. He’s merely maximizing his earnings at every turn, like many great fighters before him. Ali, generally revered as the greatest to ever lace up a pair of gloves, took exhibition fights late in his career for easy paychecks, such as his 1979 bout against NFL star Lyle Alzado, which was more spectacle than competition. He also participated in the infamous 1976 mixed-rules fight against Japanese professional wrestler Antonio Inoki, a bizarre event that highlighted the willingness of even the greatest boxers to chase lucrative opportunities outside traditional boxing.
Mayweather retired multiple times only to return for massive financial opportunities, culminating in high-profile carnivals like his bouts against McGregor and Logan Paul. In 2022, he even fought an exhibition against YouTuber Deji, continuing his pattern of turning name value into financial gain rather than facing top contenders. The pattern is clear. Once a fighter reaches a certain level, money often trumps all else, and boxing has always thrived on spectacle. Alvarez understands this better than most.
The days of champions fighting purely for legacy are likely long gone, if they ever truly existed.
Some may argue that Alvarez electing to fight in Saudi Arabia over Las Vegas is another sign of him betraying his boxing traditions, however history shows the sport has always migrated to wherever the money flows. The heavyweight division once centered around Madison Square Garden before shifting to Las Vegas. Now, with Saudi Arabia willing to pay unprecedented sums, the sport is naturally gravitating toward its newest financial powerhouse. Alvarez is simply following the money.
Ultimately, “Canelo” neither saved nor harmed boxing this week — he navigated it in the same way every great fighter before him has. His decisions were not about purity or preserving tradition. They were about securing the most lucrative opportunities available. The only difference now is that the business of boxing is more transparent than ever, and “Canelo” just showed his hand for all to see.
So while fans may debate his choices or near-choices, the reality remains unchanged. Boxing has always been a business first, and Alvarez is playing the game better than anyone else.
