Canelo Alvarez had no problem dropping almost $6 million on wristwatches this week, with the Mexican’s famed adviser tipping he’ll become the first fighter in history to boast a net worth exceeding $1 billion.
The declaration comes as American sportscaster Jim Lampley and US boxing star Vergil Ortiz Jnr have both backed Canelo to win himself what many are now billing as ‘The Fight of the Century’.
Already boasting a net worth of $420 million, Alvarez is now on the cusp of making even more cash – and history — in Sunday’s Las Vegas megafight with American Terence Crawford.
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According to Sports Illustrated, boxing’s biggest draw is guaranteed $220 million for the Allegiant Stadium blockbuster – a staggering claim considering Crawford has suggested publicly his purse is $15 million.
FILE – Canelo Alvarez, left, and Terence Crawford face off during a news conference for their upcoming boxing match Friday, June 27, 2025, in Las Vegas. (AP Photo/John Locher, File)Source: AP
Certainly, money is proving no issue for the undisputed super middleweight king in fight week, having in recent days spent US$3.8 million on watches — a video of which is now doing the social media rounds.
The outlay should be of little surprise to fight fans however, given Alvarez also boasts a $20 million fleet of cars — including a Bugatti Chiron, Lamborghini Aventador, Mustang 500 Eleanor, Ferrari Testarossa and Rolls Royce Ghost.
Speaking with The Ring this week, Alvarez’s new adviser Richard Schaefer has also given an insight into the wealth of a fighter whose empire is readying to eclipse even the likes of Floyd ‘Money’ Mayweather and Conor McGregor.
Initially making his name as the architect behind Oscar de la Hoya’s Golden Boy promotions, Schaefer has more recently taken up an exclusive working deal with Alvarez, and now oversees all of his business ventures.
RIYADH, SAUDI ARABIA – MAY 01: Canelo Alvarez speaks to the media during a press conference ahead of his IBF, WBC and WBO World Super Middleweight titles fight against William Scull as part of the Fatal Fury City of Wolves card at Boulevard City Studio on May 01, 2025 in Riyadh, Saudi Arabia. (Photo by Richard Pelham/Getty Images)Source: Getty Images
Asked about how his work with the champion compares with De La Hoya, the adviser explains: “There are business parallels between Canelo and Oscar.
“But with Oscar, we were building a business portfolio from scratch … (while) Canelo had substantial business interests by the time I got involved with him.
“Also, Canelo has a different reach.
“He’s loved in Mexico, and the pride that he has in representing Mexico comes from the heart.
“Canelo now has more than 30 businesses in Mexico.
“He makes more money outside the ring than he makes in it.
“I honestly believe that, very soon, he will be the first fighter ever whose net worth exceeds one billion dollars.”
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Undeniably, a win over Crawford Sunday will only further enhance his superstar profile, with one of America’s most exciting young fighters tipping the Mexican to do exactly that.
An undefeated super welterweight who was once slated to face Tim Tszyu, Ortiz Jnr (23-0) is no stranger to the power of Canelo – with the pair having sparred several rounds in recent years.
And speaking with The Ring this week, he stressed Canelo’s strength will be unlike anything Crawford has ever felt while racking up belts in the lower weight divisions.
“There are different kinds of power (and) with Canelo, it’s like an unstoppable force,” Ortiz said.
“It wasn’t really explosive, but man, it was [expletive] heavy.
“He has heavy hands.
“I don’t say this out of bias toward Canelo, but logically, a great bigger fighter beats a great smaller fighter.”
Despite previously being the undisputed champion at both super lightweight and welterweight, Crawford has fought only once at super welterweight, outpointing WBA champion Israel Madrimov last August.
Now, however, he is moving up another two weight divisions to face Canelo, the undisputed super middleweight king.
“It’s a big jump,” Ortiz continued. “And it’s not like he’s fighting some random dude at 168 pounds.
“He’s Crawford, anything can happen.
“But he’s at a big disadvantage size-wise, even though he almost even looks bigger than Canelo when they are standing next to each other.
“(But) weighing more and being a fighter at a natural weight are two different things.
“I think Canelo is going to win.
“I’m not saying (Crawford) can’t win the fight, but I don’t think it’s going to happen.”
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Meanwhile, Lampley suggested Canelo would not only triumph Sunday, but likely go through the rest of his career undefeated.
“You’re not gonna beat Canelo until somehow over a long period of time Canelo beats himself,” the broadcaster said.
“My guess is he will retire without incurring another loss because it’s important for him to do that.
“I do like him against ‘Bud’ Crawford, but I do think it’s a great fight.
“Crawford, to me, is a latter-day Sugar Ray Robinson.
“He has multiple skills of Sugar Ray — he can defend or attack, and has a deep inner mean streak that he can employ at any moment in a fight to get what he wants.”
Back in February, Canelo shunned a potential fight with American Jake Paul to instead sign a four-fight deal with Riyadh Season, offering huge financial rewards thanks to billionaire Saudi promoter Turki Alalshikh.
It is estimated the deal is worth at least US$400 million, or over $600 million Australian.
His first bout under the contract — against William Scull in May — is believed to have earned him around $120 million, with the purse for Sunday’s Netflix event rumoured to be far greater again.
All of which has more than a little to do with Schaefer, who made one of his first points of business to end the issues between Alvarez and His Excellency, Alalshikh.
“Last December,” Richard said, “Canelo called and asked if he could meet with me to talk about restructuring his businesses.
“We’d always gotten along well.
“Our relationship went back to when Canelo was a young man fighting for Golden Boy.
“So we got together.
“We talked.
“And I said I’d be honoured to work with him.”
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And as for heavyweight promoter Alalshikh?
“The first thing I did for Canelo,” he says, “was set up a meeting with His Excellency in London in January to iron out the differences between them.
“We put together a three-fight deal within 24 hours that, later, became a four-fight deal when His Excellency added the May fight in Riyadh against William Scull.”
Exactly how much Crawford is set to earn in Sunday’s fight remains unclear — with ‘Bud’ on record regarding a US$10 million purse, despite whispers suggesting he will earn at least five times that amount.
Regardless, Canelo has gone and spent $6 million this week on wristwatches alone.
In a video of his fight week shopping spree, one seller offers Canelo a US$550,000 watch before the Mexican then turns his attention to a timepiece worth almost twice that.
The undisputed super middleweight king also then buys another worth US$1.4 million, joking “$1.4 million on my hands”.
Elsewhere, Schaefer said his client could also eventually move into fight promotion.
“I wasn’t planning to get involved on the promotional side of boxing again,” Schaefer says.
“But boxing is like a religion in Mexico and, right now, no one is investing in building young Mexican fighters.
“A Mexico-centric boxing promotional business, if it’s well-run, could be enormously successful.
“And Canelo would be an excellent promoter.
“He’s very smart, listens and learns.
“Will he promote? It’s possible.
“There’s an opportunity and a possibility, both in Mexico and the United States.
“Who knows what might happen in the future.”