Gennadiy Golovkin. Joe Camporeale-USA TODAY Sports

Gennadiy Golovkin sues Golden Boy Promotions for minimum $3 million

By Chelena Goldman | Last updated 3/21/22

Middleweight champion Gennadiy Golovkin filed a lawsuit on Friday against Oscar De La Hoya's Golden Boy Promotions for at least $3 million stemming from a 2018 rematch fight against Canelo Alvarez, multiple sources confirmed Monday after BoxingScene first reported.

Gennady Golovkin is now suing Oscar De La Hoya's Golden Boy Promotions for upwards of $3million that he claims he's owed related to the Canelo Alvarez 2018 rematch. GGG is alleging breach of contract and breach of fiduciary duty, as well as other allegations. [@DanRafael1]
— Michael Benson (@MichaelBensonn) March 19, 2022

Golovkin, known as GGG, is alleging "breach of contract, breach of fiduciary duty, conversion, constructive trust, and accounting" ESPN said. The Kazakhstan native, currently living in L.A., is seeking a jury trial.

According to the complaint, Golovkin is looking to be paid interest on the $9,025,351 Golden Boy still owed him in January 2021. Golovkin contends the amount, which Golden Boy reportedly paid in July 2021, is inaccurate due to an accounting error.

GGG wanted until July to be paid more than $9 million owed from the upside of the highly lucrative rematch. @Idecboxing first reported on the lawsuit. Golden Boy declined to comment.
— Mike Coppinger (@MikeCoppinger) March 21, 2022

Per ESPN, "the boxer seeks at least $450,000 in sponsorship revenue, $177,458 in 'other funds simply not paid though listed on Golden Boy's own accountings,' approximately $31,500 (45% of around $70,000 in additional PPV revenue), expenses incurred by the postponement of the rematch after Alvarez tested positive for a performance-enhancing drug, and unapportioned insurance expenses."

Alvarez won the bout by majority decision.

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