Alvarez, Golovkin set for September rematch

Canelo Alvarez vs. Gennady Golovkin

De La Hoya told Rafael the fight was "100 percent over", but as that was happening, Golden Boy President Eric Gomez was putting together a "Hail Mary idea" to break the deadlock.

With frustrating negotiations dragging on between the camps for a rescheduling of the fight, Alvarez's promoter Oscar de la Hoya set a deadline of noon on Wednesday for Golovkin to accept his terms which were believed to be 42.5% of the purse split compared to Canelo's 57.5%. His promoter, Tom Loeffler, told the Los Angeles Times that the deal was dead following Wednesday's deadline because GGG "stuck to his principles".

The two fighters had been due to fight each other in Las Vegas on May 5 before the middleweight bout was cancelled after Alvarez failed two drug tests.

Who's everyone backing in the second meeting - "Canelo" or Golovkin?

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However, he is free to box again from 17 August and Golovkin has accepted a reportedly improved offer to stage the rematch.

If the former WBA world middleweight champion doesn't fight Alvarez next, Jacobs is expected to box Sergiy Derevyanchenko for the vacant IBF middleweight title at some point in October. Golovkin and Alvarez met last September at the T-Mobile Arena, the same site where the rematch will take place, and fought to a heavily disputed draw that most thought Golovkin won.

A rematch was planned for May only for Canelo to withdraw after failing two drugs tests for banned substance clenbuterol in February.

"It's a much bigger fight with all the controversy that has gone on and no love lost between the guys", Loeffler said.

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