Alvarez vs. Lara in 2014
Jul 12, 2014; Las Vegas, NV, USA; Erislandy Lara (white trunks) connects on a punch toward Canelo Alvarez (gold trunks) during a superwelterweight fight at MGM Grand. Reuters

The bout between Saul “Canelo” Alvarez vs. Miguel Cotto on May 2, 2015 is off the table after the deadline for Cotto to sign on the contract has passed with Oscar De La Hoya saying that they are now looking for other options for Alvarez.

“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. Canelo bent over backwards to try to make this fight. There is a deadline and that deadline has passed,” De La Hoya, Golden Boy Promotions Chief Executive Officer (CEO) said to “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.”

De La Hoya also said that the decision is final and that the Puerto Rican will not get what he is demanding if they ever negotiate again adding that future deals will be done in “Canelo’s terms”. Cotto’s adviser Gaby Penagaricano confirmed that his fighter did not agree with the terms of the fight and will move on to looking for other opponents in 2015.

2015 is considered a big year for boxing with the Floyd Mayweather Jr vs. Manny Pacquiao talks progressing and the anticipated Alvarez vs. Cotto bout also initially scheduled in this year. It’s one of the best fights in the division and most colourful with the Mexico vs. Puerto Rico angle being played. However with the latest development, Alvarez will now look for other fighters in the division.

Alvarez, who is from Tlajomulco de Zúñiga, Jalisco in Mexico, can now be paired with contenders in the junior middleweight, or 154 pound division. Possible opponents are Erislandy Lara, Demetrius Andrade, Cornelius Bundrage and Vanes Martirosyan. The fight with Lara will be a rematch after Alvarez beat the Cuban in a split decision on July 12, 2014.

De La Hoya also confirmed that Alvarez wants the May 2, 2014 fight date although they could change those plans especially if Mayweather-Pacquiao is finalised on the same Cinco de Mayo weekend date.

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