According to Rick Reeno of BoxingScene.com, Golden Boy Promotions President Oscar De La Hoya has officially pulled the plug on a potential showdown between his fighter, former jr. middleweight champion Saul "Canelo" Alvarez, and WBC middleweight champion Miguel Cotto. Evidently, Team Canelo issued a Friday night [last night] deadline to accept their final offer, but because they have yet to hear back from Team Cotto, they are moving forward with other plans to still fight on May 2.
"Canelo is obviously fighting on May 2nd, he's firm on that. The fight he wanted is Cotto because that's a fan-friendly fight and he wants it for the fans. All of our terms are dealt with. We agreed to everything," De La Hoya explained to Reeno. "Canelo bent over backwards to try to make this fight. There is a deadline and that deadline has passed. Since now that they didn't take the offer, and a very handsome offer, we therefore, Canelo and Golden Boy, we're going to move on...Canelo gave me a deadline of last night and that deadline passed."
De La Hoya made it clear that Canelo will no longer just sit and wait, refusing to further negotiate the fight even if they heard back from Team Cotto in the near future. "No, the deadline passed. [Cotto] will never see whatever he wanted. He will never see that number again. Canelo gave him everything they wanted. If we're going to make a future deal down the line, in the future this year or next year, I guarantee that its going to be on Canelo's terms," he added.
[ Follow Ben Thompson on Twitter @fighthype ]