Inside collapse of Jake Paul’s $200m fight with Canelo Alvarez as boxing legend thought bout was TOO BIG for Netflix

JAKE PAUL was on the verge of a sensational deal to fight Canelo Alvarez - but it was KO'd after a dramatic turn of events overnight. The YouTuber-turned-boxer and Mexican great were poised to this week announce a shock May 3 bout in Las Vegas. But Canelo walked away just days beforehand to instead sign a deal with Turki Alalshikh - Saudi Arabia's powerful boxing powerbroker. It brought an end to one of the most remarkable 24 hours in boxing.

A mega-fight even rival promoter Eddie Hearn claimed was worth $200MILLION went up in smoke following a five minute phone call. And SunSport is here to reveal exactly what transpired over three months of talks between the two camps. It all started in December, one month after Paul beat Mike Tyson in their controversial clash on Netflix. Outrage surrounded the fight as Tyson returned at 58 for his first professionally-sanctioned bout in 20 YEARS.

He had only faced Roy Jones Jr - aged 54 at the time - in an exhibition four years earlier - which was nothing more of a glorified sparring session. Nevertheless, over 100 MILLION tuned in on Netflix - causing the streaming service to collapse. CASINO SPECIAL - BEST CASINO BONUSES FROM £10 DEPOSITS. And over 70,000 fans turned up at the Dallas Cowboys' stadium in Texas - banking £14.5m in ticket sales alone.

This caught the attention of Canelo - who managed to generate £7.2m in the same stadium for his 2021 win over Billy Joe Saunders. Paul and his team - looking to match the commercial success of their event with Iron Mike - reached out to Canelo's camp for talks in December. Alvarez - managed by his trainer Eddy Reynoso - left negotiations in the hands of Al Haymon of Premier Boxing Champions. Canelo has worked with Oscar de la Hoya and Hearn previously but his last three bouts had been with PBC - and he wanted to keep it that way.

Talks between the opposing camps progressed into January. And while a verbal agreement for Canelo to face Jake Paul in his next fight was struck - nothing had been officially signed. The bout would be at the 200lb cruiserweight limit with the T-Mobile Arena in Vegas already booked - targeted for Netflix - over 12 rounds. According to a social media post from Paul's promotional partner Nakisa Bidarian - Canelo's team initially suggested a 190lb catchweight contest.

But Bidarian argued allowing Paul to fight at the 14st 4lb cruiserweight limit of 200lb would garner more public interest. After all, size was the only thing on paper in the celebrity's favour. Canelo - a champion in four weights from 154lb up to 175lb - has been called out by prankster-gone-prizefighter Paul since as early as 2021. But the ex-undisputed super-middleweight king always laughed it off as nothing more than nonsense from the former Disney Channel actor.

That was until recently, when Canelo and his team began to open the door to the idea. This wasn't a coincidence. There was a strategic plan in place for Canelo to begin publicly considering the idea of fighting Paul. That way fans would start to recognise that the previously impossible bout was no longer just a fantasy of Paul's. By the new year it looked as though a deal was edging closer - all while Canelo travelled to London for a glitzy Ring Magazine event.

In the midst of talks with Paul's camp, Canelo was also looking to a September super-fight against unbeaten American Terence Crawford. Alalshikh - who purchased The Ring Magazine from Oscar de la Hoya - had proposed a three-bout deal with Canelo. But Alvarez's regular Cinco de Mayo fight date - held over Mexico's annual celebration in May - was yet to be finalised. Paul was to fill that space with Crawford taking the September date over Mexican Independence Weekend.

Canelo returned home from the capital having held talks with Alalshikh over the Crawford fight. It seemed business with Paul and Alalshikh's Riyadh Season were being dealt with separately - and would not interfere with each other. That was all about to change. By early February, Canelo and Paul were close to being able to announce the Sin City blockbuster. But suddenly, Canelo a sudden change of mind. He informed Paul's team that he no longer wanted the bout on Netflix - he felt it was too big not to be on PPV.

PBC are in their first year with Amazon Prime - who also have a box office platform. But Paul and his team stood firm. In their eyes the fight was only ever heading to Netflix. They had already conceded that Canelo would get A-side treatment. That included having his name first on the poster while walking to the ring and having his name announced after Paul. As discussions continued about the fight being on PPV or Netflix - Alalshikh entered the frame with an ultimatum.