CANELO ALVAREZ is on course to become a BILLIONAIRE by next year.
The Mexican superstar is boxing’s top attraction on the cusp of another $100MILLION payday on Saturday night against Terence Crawford.
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But Canelo’s business manager Richard Schaefer revealed the champion boxer’s best earnings are actually outside of the ring.
The 35-year-old has several big-name sponsorships including Dolce & Gabbana while having a highly profitable tequila seltzer.
So Schafaer believes by 2026 the boxing great will have joined the billionaire club.
“The way these different businesses he has are performing, I think we’re getting very close,” he told SunSport.
“I mentioned I could see it happening sometime next year.
“We have so many other investments, some of them are private equity investments, some of them are actually operating businesses where we operate the business.
“Whether that is VMC with his ready-to-drink tequila based drink which is breaking records here in the United States and in Mexico.
“It’s the fastest growing ready to drink in the United States in its category.
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CANELO VS CRAWFORD: ALL THE DETAILS YOU NEED AHEAD OF THE FIGHT OF THE CENTURY
Canelo vs Crawford – All the info
IT’S finally time – one of the biggest boxing matches EVER takes place THIS WEEKEND.
Two of boxing’s GOATs will meet in the ring as they fight for pound-for-pound supremacy and the super-middleweight crown.
Saul ‘Canelo’ Alvarez and Terence Crawford have been fixtures in the top of the rankings for years and are considered among the best to ever do it.
Unbeaten Crawford, who beat Israil Madrimov to win the light-middleweight title last time out, hasn’t fought for a year.
He is jumping up two weight divisions to meet Canelo, having spent most of his career weighing in even lighter.
Mexican favourite Canelo has scored title defences over Edgar Berlanga and William Scull since Crawford was last inside a ring.
Here’s all the info for this must-watch fight…
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“It’s going to be doing over two million cases after only a little over a year so that in itself has a very, very substantial value.
“We’re talking hundreds of millions of dollars, and that’s just one, but there’s so many other businesses, hospitality, gaming, wine, alcohol, convenience stores, oil and gas.
“I mean it just is an unbelievable portfolio of investments because everybody likes to do business with Canelo.”
Canelo has already banked close to $500m through boxing – as the sport’s main pay-per-view attraction.
But his next fight – against unbeaten Crawford – lands on Netflix live from the 65,000-seat Allegiant Stadium in Las Vegas.
Saudi Arabia’s rich powerbroker Turki Alalshikh – who has Canelo signed to a multi-fight deal – revealed his purse is MORE than $100m.
But Schaefer explained the actual fight itself is only the tip of the iceberg in the deal.
“It’s a very complex deal that we structured. The fight purse is actually the smaller of the components,” he revealed.
“There are many other components from endorsement sponsorships, ambassadorships, there’s different aspects to this contract. It’s unlike any other contract signed by a fighter and another party.
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“It’s really much more than just fight purses and I think that is what His Excellency alluded to. The actual fight purse is the smallest part of this overall contract.”
Floyd Mayweather – who beat a 23-year-old Canelo – has always boasted of being boxing’s biggest earner.
He even topped Forbes’ rich list of the decade in 2019 with $1.2BILLION made during his career.
But Schaefer says Canelo’s business outside of the ropes could see him compete with Mayweather’s wealth.
“Floyd’s in-ring earnings are legendary because of those two big fights he had, one of them with Manny Pacquiao one of them with Conor McGregor.
“But if you then take into consideration what I’ve mentioned before, Canelo’s outside the ring earnings, I do think that he’s a level of his own. But, at that level between Canelo and Floyd it’s big numbers!
“Canelo is younger as well and I think he has a lot of earning power left ahead of him and he’s really made some good investments.”
Defeat to Mayweather sparked a sensational response from Canelo – who won world titles from 154lb all the way to light-heavyweight at 175lb.
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Schaefer, working for Oscar de la Hoya’s Golden Boy promotions at the time, tried to talk Canelo out of fighting Mayweather alongside promoter Eric Gomez.
But the 60-year-old Swiss looks back and believes the humbling loss was the best thing to happen to Canelo.
“He didn’t wanna hear it,” Schaefer said of his attempts to convince Canelo against fighting Mayweather.
“He basically shut us off. He said, ‘There’s only one guy I want to fight and that is Floyd Money Mayweather.’
“We couldn’t talk him out of it. I know Oscar tried, Eric tried, Roberto Diaz tried, we all tried. But he didn’t wanna hear it.
“He wanted to fight Floyd and test him against the best and that’s still what he’s doing.
“It’s really amazing that young Canelo going in against Floyd, losing the fight but at the same time making him what he is today.
“I think this fight, even though he lost, it helped him to become what he is today because it motivated him and showed him where he wanted to be and gave him that extra motivation and incentive.
“It was a blessing in disguise.”
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