Canelo’s manager makes bold claim about his finances here as he looks to rocket and explode in growth shortly with some big numbers mentioned.
Some people think Floyd Mayweather while adjusting for inflation already became boxing’s first billionaire but this is not true, he did not.
Don’t you think Mayweather would be telling you that if he was already a billionaire? Now, he may have over a billion in assets but they might not be liquid nor does that mean he is a billionaire, net worth and so on can get complicated.
Some think Canelo Alvarez, a former opponent of his, will beat him to that particular punch.
Richard Schaefer below knows Alvarez well in his business regard — having promoted him since the Golden Boy Promotions days.
Speaking to Fight Hub, head of Mayweather Promotions as their CEO, but also seperately, now business manager to Canelo Alvarez, Richard Schaefer said:
“I’m very fortunate. I started with him when he was 17 years old. I’ve known him since then, and now he’s 34. We worked together during the Golden Boy days and always had an amazing relationship and friendship. We stayed in touch, called each other, met up, but I was sort of retired, having done my thing in boxing. Then he called me and said, “Look, it would be great to have you back. Come help me with everything.” He’s my friend, so I’m thrilled and excited to be working with him, handling all different aspects. He’s not only a champion in the ring but an amazing human being, a great father, a great husband. You see friends who come from all over the world to support him. He’s a great friend and great at everything he does. Without question, he’s the smartest businessman in boxing I’ve ever met. We’re going to get him to be the first fighter to break a billion-dollar net worth. I have zero doubts about it.”
That is a lot to say and Schaefer knows his stuff on that side, so that carries some weight.
Alvarez has done well but really he’s only getting started.
The world is his oyster but he needs to focus on boxing this year, that last fight with William Scull recently, although he won, was a bad performance.
Alvarez takes on Terence Crawford in a super fight in September next up.