For years, Boxing and other sporting fans have grumbled about the lack of relevance most boxing fights have nowadays. That criticism centered on Pay-per-View events that in some fan minds have diminished the sport, particularly, within the year 2022 and the PBC group of fighters. Events that would have been co-main level events in years past now demand 40 to 60 dollars a pop while marquee fights want near 80 dollars.
However, PBC came roaring back in 2023 with formidable fights, like Canelo’s 3 fight deal that initiates this fall, the Garcia vs Tank Davis fight in April, any potential bout with Deontay Wilder or any number of clashes made possible for David Benavidez along with the Spence versus Crawford event later this month.
Add to that the achievements of DAZN with Matchroom’s championship bouts (some with Canelo also) and Golden Boy’s steady stream of contender featuring matches along with ESPN+’s Lomachenko vs Haney fight and Lopez vs Taylor match. Thus, 2023 left an imprint on the fanbase that will resonate for the rest of the year. Fortunately, there is more boxing left for the year as well as the potential for a larger cultural impact.
Canelo’s Everyday Frame Make Him Universal Hero
Unlike most famed professional athletes who require near mythological height or weight, Canelo Alvarez is just at the average height of the American consumer, but his achievements stand taller than all current active boxers of any weight class. More on this later …
As a fighter, his prowess is unquestionable. Nonetheless, the partisanship of boxing makes Canelo a fighter that is both divisive, inspiring, but always the barometer for the state of boxing. With or without Canelo, the sport of boxing will go on because there is no shortage of talented boxers as the many bouts mentioned prove. The only question is at what scale can the sport continue.
Piracy From Stingy Fans Makes Boxers Play It Safe
Increasingly, networks and promoters have to bear the brunt of piracy which eats into the profitability of making so called “50/50” fights where the fighters appear both aesthetically and via their official record to be on even footing, with no one fighter looking the underdog. Unlike the UFC where a single administration governs pay, fight schedules and essentially turns fighters into subcontractors, boxers are both at greater risk from a defeat’s aftermath, but also more in control of on the payout of their careers. Their main task is to maintain popularity so fans will attend their fights.
Unfortunately, the doubts around Boxing’s sustainability continue to haunt boxing because piracy from casual and enthusiastic fans alike cannibalizes the sports ability to be profitable. Additionally, the partisanship mentioned earlier knocks down the number one fighter at any moment because of the vitriol promotional companies have for one another. In essence, while this makes for a somewhat competitive market, the ensuing drama between promoters, boxers and rivals within both camps turns into inertia that turns off people outside of the hardcore boxing nexus.
If Canelo Breaks Through, Everyone Wins
However, the unique attributes behind Canelo’s current reign: for instance, he stands at 5′ 8” and his physicality has permitted him to fight competitively at light heavyweight with people who are always above 6 feet tall and naturally larger. Like it or not, this resonates with many fans considering the average height of the American (increasingly diverse in origin) is around the same.
Many of you may wonder why Canelo was on a celebrity golf course tournament alongside Patrick Mahomes, which may seem like happenstance, but in fact is part of a concerted effort to garner and bolster both athletes’ images for global households. Disruptive Acquisitions company, a company that focuses on consulting for private tech firms and athletic branding, mentioned in a recent Securities and Exchange Commission filing that Mahomes and Canelo form part of an ‘Athletic Advisory Board’: Justin B. Verlander, Canelo S. Alvarez Barragan, Patrick L. Mahomes II, Naomi Osaka and Robert Lewandowski” with whom it hopes to attract other athletes for campaigns and brand acquisitions.
Canelo was also sponsored by Vale, a sports betting company in Mexico that conducts business in the United States. In the spring of 2021, the company provided over 1.6 million dollars for a single advertisement, presumably, the one on his shorts for the bout against Billy Joe Saunders along with some light social media posts.
What Do Tequila, Hennessy Have To Do With Opponent Selection?
For a culture obsessed with upward mobility, American based boxing fans have chomped at the bit for a fight unprofitable in a financial sense. Boxing pundits constantly demand for Canelo to fight against David Benavidez, who currently holds no title besides the WBC Silver Super Middleweight belt or major fan following within the US, Mexico or Ecuador. Thus, the dollar amount associated with the fight is negligible.
Endorsements within the US based Mexican, Latin America based Mexican and global Spanish speaking markets are also at play for Canelo. If he were to lose, the downside is much heavier on him than to the unproven, administratively rustic Benavidez camp who’ve struggled with weight, cocaine use and a lack of clarity in how frequently they can fight. This aspect of financials and optics weighs heavier on Canelo who while competitive at the highest level of the sport is keenly aware that at 33, the next few athletic years are significantly more valuable to him. It’s not fear, but business that drives his fight selection.
Don’t Smear The Brand!
For instance, Hennessy, an American based brand, continues to mention in investor conference calls the need to branch out into Spanish speaking markets. They’ve tried before with inbound marketers hoping to peddle the identity of being Spanish speakers (e.g. ‘Latino’), but now Hennessy has opted for the tried-and-true celebrity endorsement. In a May 2023 conference call, VP John Santos mentioned Canelo’s presence as a brand affiliate as a key part of their strategy to diversify consumer base with US based ‘Latino’ audiences. Curiously, Mexicans tend to drink Tequila, Ale beer, a product for which Canelo does not advertise now, but other boxers do. Therein lies the downside of Canelo boxing Mexicans: advertisers do not want to risk anything beyond the necessary if a boxer should lose (which they can tolerate), but product placement needs gentler circumstances than defeat at the hands of a competitors sponsored athlete.
Boxers would do well to understand that they can maximize return by globalizing their personal brand, like Canelo. Fight in other countries or boxers from other countries even if it means defeat and high risk so long as your next bout can be just as significant. There is a balancing act that has no rule book involved but involves prudent management.
Sponsorships, Commercials To Cancel Out PPV
Sponsorships, like in more organized sports, may well be the manner in which boxing both generates increasing amounts of revenue, and a greater number of fans access the sport, perhaps, through cable, network television or lower cost subscriptions. The fate of the sports increasingly demanding business model may rest on how successful Canelo is in garnering the clicks, views and contracts necessary to pave the way for other boxers who want to expand beyond their local market and amplify their reach and that of the sport by extension. Success would make PPV events a moot point for those who want to make the sport more accessible and profitable simultaneously.
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