Canelo Alvarez continues to be boxing’s biggest breadwinner.
With an estimated total earnings of $110 million, the undisputed super middleweight champion is the world’s fifth highest-paid athlete, according to a new report released by the media outlet.
The study was based on a period from May 1, 2022 to May 1, 2023, estimating that the 32-year-old Mexican star earned a combined $100 million for his fights against Dmitry Bivol and Gennadiy Golovkin last year.
Forbes also indicated that Alvarez earned $10 million in off-the-field endeavors, highlighted by deals with alcohol brands like Hennessy and Michelob Ultra.
Alvarez is also involved in a range of products he’s launched, including: Yaoca (beverage maker and distributor), I CAN (fitness app), Canelo Energy (chain of gas stations), VMC (canned cocktail), as well as a clothing line and credit card.
The top 10 highest-paid athletes included:
No. 1: Cristiano Ronaldo: $136 million
No. 2: Lionel Messi: $130 million
No. 3: Kylian Mbappe: $120 million
No. 4: LeBron James: $119.5 million
No. 5: Canelo Alvarez: $110 million
No. 6: Dustin Johnson $107 million
No. 7: Phil Mickelson: $106 million
No. 8: Stephen Curry: $100.4 million
No. 9: Roger Federer: $95.1 million
No. 10: Kevin Durant: $89.1 million
Here’s how Forbes explained its methodology for ranking the world’s highest-paid athletes.
“Forbes’ on-field earnings figures include all prize money, salaries and bonuses earned between May 1, 2022, and May 1, 2023. In cases where players continue to be paid beyond May 1 for a regular season that is concluded by then—as in the NBA and European soccer—we assign the full season of salary. Playoff bonuses are included for the 2022 NFL season and the 2021-22 NBA season.
“Off-field earnings figures are an estimate of sponsorship deals, appearance fees and memorabilia and licensing income for the 12 months leading to May 1, 2023, plus cash returns from any businesses operated by the athlete, based on conversations with industry insiders. Forbes does not include investment income such as interest payments or dividends but does account for payouts from equity stakes athletes have sold.
“Forbes does not deduct for taxes or agents’ fees. The list includes athletes active at any point during the 12-month time period.”
Alvarez will return to the ring in a homecoming fight Saturday against John Ryder in Zapopan’s Akron Stadium on DAZN pay-per-view.
Manouk Akopyan is a sports journalist, writer, and broadcast reporter. He’s also a member of the Boxing Writers Association of America and the MMA Journalists Association. He can be reached on Twitter, Instagram, LinkedIn, and YouTube at @ManoukAkopyan, through email at manouk[dot]akopyan[at]gmail.com, or via www.ManoukAkopyan.com.