Mayweather-Alvarez Already Has Broken All-Time Live Gate Record For Boxing Event
The Sept. 14 Floyd Mayweather Jr.-Canelo Alvarez bout at MGM Grand Garden Arena already has "broken the all-time live gate record for a boxing event after selling out on Wednesday, less than 24 hours after tickets went on sale," according to Dan Rafael of ESPN.com. Golden Boy Promotions CEO Richard Schaefer said that the fight will "generate a minimum of $18,647,000 in ticket sales and 'it could go up to a little shy of $19 million depending on the number of comps that are given out.'" He added, "The MGM is calculating and has to do the ticket settlement, but it will definitely be the record." When Mayweather defeated Oscar De La Hoya in '07, the bout "broke every boxing revenue record, including the all-time pay-per-view mark with nearly 2.5 million units sold and the all-time gate record of $18,419,200." That gate record "surpassed the previous record of $16,860,300 by the 1999 heavyweight champion rematch between Lennox Lewis and Evander Holyfield." Schaefer said that the "reason the exact gate figure for tickets ranging from $350 to $2,000 apiece is unclear is because the number of complimentary tickets have not been fully calculated." He added that the fight also has "set the record for a guarantee on national closed circuit revenue, which is derived from people who pay to watch the fight at bars and restaurants." Schaefer said that Mayweather-De La Hoya "generated a record $3 million guarantee and that the Mayweather-Alvarez closed-circuit rights went for $4 million" (ESPN.com, 6/27).