Canelo’s Business Imperative: Joel Diaz Argues A Loss To Crawford Is Simply Unthinkable For Boxing’s Future

Trainer Joel Diaz says it’s a win-win situation for Terence Crawford, being paid millions to move up two divisions to challenge Canelo Alvarez for his undisputed super middleweight championship on September 13th.

As Diaz points out, even if he loses, he goes home with $50 million, has an excuse to tell fans about his weight gain, and can return to the 154-lb division. He can resume being “The King’ of the 154-lb division.

Canelo can’t afford to lose

Diaz says Canelo (63-2-2, 39 KOs) can’t afford to lose the fight because it would be bad for boxing. There won’t be as much fan interest in a fight between Crawford and David Benavidez as there would be if Canelo won. That’s if Crawford would even agree to the fight with Benavidez, which is questionable.

Terence can’t carry the sport the way Canelo did because he doesn’t have the fanbase, and his fighting style isn’t as entertaining. Diaz states that the reason the 37-year-old Crawford is being allowed to fight Canelo isn’t because the fans demanded the fight. It’s because Terence is friends with Turki Alalshikh. He’s his “favorite fighter.” So, it’s a situation where this is what Turki wants, not the fans.

“Crawford became friends with Turki Alalshikh, which Turki announced publicly, ‘Terence Crawford is my favorite fighter of this era,” said trainer Joel Diaz to Against The Ropes podcast. “As friends, as business in boxing, Terence Crawford wins. But he wins money. He’s going to make 40, 50, but no less than $10 million. So, right there, Terence is winning regardless.”

Crawford’s legacy is safe

It’s an ideal situation for Crawford. He moves up two divisions, gets paid a reported $50 million, and his legacy won’t be harmed if he loses because he has the excuse of going up in weight. The only ones that lose are the fans if the fight turns out to be a big disappointment like Canelo’s match against former 154-lb undisputed champion Jermell Charlo.

Fans on social media wish David Benavidez were Turki’s “favorite fighter,” so that he could set up a fight between him and Canelo. Crawford is, in my opinion, a disappointing substitute.

Canelo is boxing’s money-maker

“Crawford has to sell the fight. He says, ‘I’ll beat Canelo.’ But we’ve seen it many times. When a fighter moves up two divisions, they fail,” said Diaz. “Crawford just moved up from 147 to 154. Now, he’s going to go from 154 to 160 to 168 to fight ‘The Money-maker.’”

Crawford just moved up to 154 in his last fight on August 3, 2024, against Israil Madrimov, and almost lost the fight. Madrimov isn’t viewed as the best fighter or even the best at 154. It was an eye-opener to see how Crawford struggled going from 147 to 154. Now, he’s going up not one but two weight classes to be given a straight title shot against Canelo.

Understandably, fans and the oddsmakers are skeptical about Terence’s chances of winning. He didn’t want to take a tune-up to show fans that he could handle the weight jump, which is a red flag to some that he was worried about being exposed.

“If Canelo loses, boxing goes down,” said Diaz. “Let’s say, for example. Crawford beats Canelo. Do people want to pay to see Terence Crawford and Benavidez? Come on. Canelo cannot lose. It’s business. Crawford’s going to win. He’s going to make millions.”

Without Turki offering Crawford a massive offer, he wouldn’t have entertained the idea of fighting David Benavidez. If he were to beat Canelo, he would prefer to fight a rematch rather than go up and deal with Benavidez. He won’t want to fight Benavidez if he loses to Canelo. That wouldn’t make sense.

Crawford’s easy escape

“If he goes home with a loss, ‘No problem. I moved up to try to beat the fighter of the moment.’ Terence Crawford will not lose anything, even if he loses the fight to Canelo Alvarez. Because going back, ‘That’s not my division. I’ll go back to 154, and I’ll still be the king,” said Diaz.

Crawford is not “the King” of the 154-lb division. He could return to 154, but he wouldn’t be “the king” in the sense of being the best fighter. Crawford would arguably be the most popular, given that he’s been able to stand on Turki Alalshikh’s shoulders for the Canelo and Israil Madrimov fights. There would be money for Crawford to make fighting Jaron ‘Boots’ Ennis, Vergil Ortiz Jr., Bakhram Murtazaliev, and Sebastian Fundora. If it’s a big pay cut from what he got fighting Canelo, it’s questionable whether he would accept.

“It’s going to be like the [Jermell] Charlo fight. They’re going to sell the fight like Crawford is going to win, but there is no way, business-wise, Canelo will jeopardize a loss. If Canelo loses, the boxing business goes down,” said Diaz.