Mexican boxer inks 'the richest contract in sports history'

Unified middleweight world champion Canelo Alvarez and the streaming service DAZN have agreed to a five-year, 11-fight deal that will pay the boxer at least $365 million - the highest-paying athlete contract in history, reports Reuters.

DAZN became the broadcast home of boxing in the United States after HBO announced in September that it is getting out of the fight business. The signing of Alvarez kicks off the DAZN-boxing partnership with an exclamation point and plenty of zeroes.

Alvarez's first fight under the contract will coincide with his move to super middleweight. "Canelo is the highest-paid athlete in the world. He's extremely happy," Oscar De La Hoya, Alvarez's promoter, told ESPN after Alvarez signed early Wednesday.