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An Austrian business delegation headed by the country’s President Alexander Van der Bellen explored with its Lebanese counterparts mutual investment opportunities during a forum held in Beirut Tuesday evening.
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From Hollywood to hip hop, it’s the weapon that is wielded by cops and outlaws alike. The Glock pistol has achieved global cult status but the business is still shrouded in mystery in its native Austria.
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With HBO throwing in the towel on boxing, one of its biggest fighters is heading to online streaming.
Canelo Alvarez has signed a five-year, 11-fight deal with DAZN, the sports streaming service led by former ESPN president John Skipper. The company claims Alvarez’s deal is the richest sports contract for any athlete in history.
ESPN reported it’s for $365 million, which would surpass the 13-year/$325 million contract that baseball star Giancarlo Stanton signed with the Miami Marlins in 2014 (he’s since been traded to the New York Yankees). A representative for DAZN did not immediately respond to TheWrap’s request for clarification on the actual dollar amount of the contract.
The deal begins with the Dec. 15 bout at Madison Square Garden against Rocky Fielding for his WBA Super Middleweight World Title.
“We are thrilled to be exclusive partners with Golden Boy Promotions and Oscar De La Hoya,” said Skipper, DAZN Group Executive Chairman. “By bringing Canelo’s fights to DAZN, we will turn his pay-per-view success into a growth engine for subscribers – a truly transformational moment for our business and the entire industry.”
Skipper, who resigned from ESPN after 27 years last December, joined DAZN’s parent company Perform Group as executive chairman in May. DAZN was launched just two years ago, and made its U.S. debut earlier this year.
Also Read: Ex-ESPN Boss John Skipper Lands New Job
As part of the deal, Golden Boy Promotions — Alvarez’s management company led by Oscar de la Hoya — will put on up to 10 fights each year on DAZN beginning in 2019. The DAZN-Golden Boy deal includes a large production element, which places Oscar De La Hoya as executive producer of the live fight nights.
Alvarez and Golden Boy were one of HBO’s biggest boxing draws. In 2014, HBO pried Alvarez and Golden Boy away from rival Showtime in a huge exclusive deal. But last month, HBO said it would no longer feature live boxing matches beginning next year, which had a programming staple for 45 years.
The deal between Alvarez and DAZN in landmark in another way: It will take one of boxing’s biggest draws off Pay-Per-View, where the sport makes the most of its money. The fights will be available in all DAZN markets, including the United States, Canada, Italy, Germany, Austria, Switzerland and Japan. The service is available for $9.99 per month.
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Austria is one of the 12 richest countries in the world in terms of GDP per capita, has a well-developed social market economy, and a high standard of living. Until the 1980s, many of Austria's largest industry firms were nationalised; in recent years, however, privatisation has reduced state holdings to a level comparable to other European economies. Labour movements are particularly strong in Austria and have large influence on labour politics. Next to a highly-developed industry, international tourism is the most important part of the national economy. Germany has historically been the main trading partner of Austria, making it vulnerable to rapid changes in the German economy. However, since Austria became a member state of the European Union it has gained closer ties to other European Union economies, reducing its economic dependence on Germany. In addition, membership in the EU has drawn an influx of foreign investors attracted by Austria's access to the single European market and proximity to the aspiring economies of the European Union. Growth in GDP accelerated in recent years and reached 3.3% in 2006. In 2004 Austria was the fourth richest country within the European Union, having a GDP (PPP) per capita of approximately € 27,666, with Luxembourg, Ireland, and Netherlands leading the list. Vienna was ranked the fifth richest NUTS-2 region within Europe with GDP reaching € 38,632 per capita, just behind Inner London, Luxembourg, Brussels-Capital Region and Hamburg. Growth has been steady in recent years 2002-2006 varying between 1 and 3.3 %.