The long-awaited showdown between Miguel Cotto and Saul "Canelo" Alvarez will not happen on Cinco de Mayo weekend on May 2, Golden Boy Promotions president Oscar De La Hoya told ESPN.
De La Hoya announced that the proposed fight is now off the table after Cotto declined to accept the offer after being given five deadlines to sign the contract. The GBP president said that they have already informed Gaby PeñagarÃcano, Cotto's adviser, about their decision to back out of the discussion for the fight.
"They did not accept. So Canelo decided to move on. We had a deadline. We had our fifth deadline," De La Hoya said. "Canelo has decided because Cotto and Gaby turned down the deal, he is obviously not going to be waiting for nobody. He has to move on and resume his career and we have to lock down an opponent."
Alvarez, who holds a 44-1-1 record with 31 knockouts, has been chasing Cotto over the past several months because he is interested in the Puerto Rican's World Boxing Council middleweight title.
De La Hoya also added that Alvarez has agreed to most of Cotto's demands because they want to give boxing fans the fight that they have been asking for. But after failing to get an answer from Cotto, De La Hoya said that they had no other choice but to look for a new opponent for Alvarez's next fight.
De La Hoya insisted that Alvarez is still planning to fight on Cinco de Mayo weekend on May 2. Alvarez has made it no secret that he wants to take the fight date from Floyd Mayweather, but De La Hoya admitted that they will move to another date only if Mayweather decides to face Manny Pacquiao on May 2.
"If they make Mayweather-Pacquiao, then there is going to be change of date and we will do it out of respect for the fans," De La Hoya told BoxingScene. "People have been waiting for that fight the past seven years, but if it's Mayweather with Cotto or Mayweather with Khan, then we'll see."
De La Hoya added that they are considering several options for Canelo's next fight. The Hall of Fame boxer declined to reveal names of possible opponents, but reports indicated that they are eyeing a showdown against James Kirkland and middleweight contender David Lemieux.
