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Business litigation involves boxer claiming breach of contract

On Behalf of | Sep 21, 2020 | Business Transactions |

In California and across the United States, sports contracts are a frequent topic of discussion. This happens not just in legal and business circles, but among fans and media who would ordinarily be unaware of these issues. Still, sports are a business just like any other and when there are allegations that there has been a breach of contract, legal assistance is essential to ensure that those involved are protected.

Boxer and promoter engaged in dispute over contract

The boxer Canelo Alvarez asserts that his promoter and its broadcasting partner have committed a breach of contract. The promoter, Oscar De La Hoya, is a famous boxer in his own right who has recently hinted at a comeback. In the lawsuit filed in Los Angeles, Mr. Alvarez requests a minimum $280 million from a 2018 agreement he signed with Mr. De La Hoya’s Golden Boy Promotions and the broadcaster DAZN. The agreement was for $350 million. He asserts that the promoter and broadcaster have prevented him from fighting.

A planned bout for May was canceled because of the current national health crisis. Another bout was planned for September, but problems with ticket sales led to it being shelved. Another plan for him to fight in November came undone when DAZN said Mr. Alvarez was not living up to his part in the agreement because he was not going to fight an opponent whose credentials it considered sufficient. DAZN then offered 50% of his $35 million per-fight guarantee. Mr. Alvarez offered to negotiate, but the broadcaster did not make an offer. Contractual language is a sticking point as the broadcaster wants a more lucrative fight against one of Mr. Alvarez’s past opponents. Golden Boy Promotions says that the dispute is between the boxer and the broadcaster and it is living up to its role in the contract.

Breach of contract claims require legal assistance

Contract disputes are complex regardless of the business involved. A contract will have certain parameters that the sides must abide by. If one or both parties fail to do so, it can lead to acrimony and the need for litigation to settle the matter. Whether it is a large-scale business with vast sums of money at stake or a smaller one, there are effective strategies to settle disputes. Perhaps it is a negotiable situation and mediation or alternative dispute resolution can be used. In some instances, it is necessary to go to court. For individuals or companies embroiled in a contract dispute, a firm that is experienced in business litigation may provide guidance and advice to deal with the case in a satisfactory manner.