The richest contract in sports history now belongs to a boxer.

The richest contract in sports history now belongs to a boxer.

A new contract has shattered the existing sporting record for contracts by 28-year-old Canelo Alvarez. He agreed to a five-year, 11-fight contract with streaming platform DAZN on Wednesday that will pay him a minimum of $365 million. The contract shatters the existing record established in 2014 by New York Yankees slugger Giancarlo Stanton’s $325 million contract.

In response to many questions, Alvarez said, “I’ve always liked a challenge, and this is yet another challenger in my career. Being part of this historic deal will require me to prepare myself even more and offer fans even better performances. At the same time, I am humbled to be selected to lead this new vision for the sport of boxing, which will without a doubt be for the benefit of the fans.”

Alvarez, who owns a 50-1-2 record as a professional boxer, will fight on DAZN’s streaming platform, which recently launched in the U.S., according to the terms of the contract.

Alvarez will challenge Rocky Fielding on DAZN’s platform on Dec. 15 at Madison Square Garden. Alvarez won a high-profile bout against fellow boxing superstar Gennady Golovkin last September.

Major League Baseball players have traditionally commanded the largest contracts in professional sports. Before Stanton, Alex Rodriguez held the record, signing separate 10-year contracts worth $275 million and $252 million, respectively.

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