Gennadiy Golovkin Sues Golden Boy Promotions over Revenue from Canelo Alvarez Rematch

AP Photo/Frank Franklin II

Gennadiy Golovkin is suing Golden Boy Promotions, according to boxing reporter Dan Rafael, claiming the company owes him at least $3 million for his 2018 middleweight championship match against Canelo Alvarez.

Per that report, Golovkin is claiming “breach of contract and breach of fiduciary duty, among other allegations.”

The fight in question, a rematch between the boxers after a 2017 draw, was promoted by both GGG Promotions and Golden Boy Promotions.

Golovkin is also claiming in the suit that it took Golden Boy three years to pay him the $9 million he was due for the fight, per Keith Idec of BoxingScene.com, and is seeking interest on that amount given the delay. 

Per Idec, Golovkin is arguing in his lawsuit that he’s owed the following:

“… $1,375,000 from gate receipts, a minimum of $450,000 from sponsorships for that HBO Pay-Per-View event, $31,500 in pay-per-view upside (45 percent), funds deducted as an expense from the postponement of the fight (due to Alvarez twice testing positive for a performance-enhancing drug in February 2018), unapportioned insurance expenses, ‘other funds simply not paid though listed on Golden Boy’s own accountings’ in the amount of $177,458 and interest on the $9,025,351 it eventually paid in full.”

Golovkin will argue that he was supposed to receive 45 percent of the ticket revenue from his 2018 loss to Alvarez,and that Golden Boy would receive 55 percent, but that the boxing promoter has refused to issue him that payout. 

Golovkin (41-1-1) and Alvarez (57-1-2) appear to be set to fight again this year, with Alvarez no longer represented by Golden Boy and not named in Golovkin’s lawsuit. On March 1, ESPN’s Mike Coppinger reported that Alvarez agreed to fight Dmitry Bivol on May 7 and Golovkin on Sept. 17. 

Golovkin, meanwhile, will next fight Ryota Murata on April 9 in a middleweight title unification bout in Japan. It will be Golovkin’s first fight since December 2020 and a chance to hype the matchup with Alvarez.

As Coppinger noted, “If Golovkin and Alvarez win their upcoming bouts and emerge injury-free, one of the biggest fights that can be made in all of boxing will be set.”

Even as Golovkin sues Alvarez’s former promoter.