Canelo Alvarez was set to fight Jake Paul as a deal was being finalised ahead of an official announcement until a stunning twist.
Canelo and Paul haven't fought since their respective victories over Edgar Berlanga and Mike Tyson last year.
A blockbuster showdown between Canelo and Paul was mooted as talks took place behind the scenes.
A deal was being finalised, with an announcement imminent ahead of a proposed Las Vegas bout in May.
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However, Canelo vs. Paul was cancelled at the 11th hour as Saudi Arabia boxing chief Turki Alalshikh swooped in to secure the Mexican superstar's services to a sensational deal.
Canelo has signed a four-fight deal with Riyadh Season, ruling out a novelty showdown against Paul that was expected to land on Netflix.
Alalshikh told Canelo that if he fought Paul, his lucrative deal with Riyadh Season was off the table, per ESPN sources.
So, Canelo will return to the ring in May for his Saudi Arabia debut before facing fellow boxing star Terence Crawford in September.
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According to Mike Coppinger, Jermall Charlo and Bruno Surace, who upset Jaime Munguia, are being considered for the tune-up before Crawford.
The third fight of the deal is slated for February 2026 in Riyadh, with Dmitry Bivol, Hamzah Sheeraz and Chris Eubank Jr. touted as potential opponents.
The fourth fight of the deal is planned for October 2026 in Riyadh.
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Alalshikh took to social media to announce the deal.
On X, he wrote: "Don’t mess with the lion ... 4 fights for Canelo with Riyadh Season … The Deal is done … A Lion doesn’t lose sleep over opinion of a sheep… Fear the lion not the jungle."
To which Canelo replied: "Let’s go brother."
Crawford, who won't fight before facing Canelo, added: "I’m waiting on Canelo in September and going to shock the world in Riyadh Season!"
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Paul will have to look elsewhere for his next opponent, with the 34-year-old now tied with Riyadh Season.
He had targeted Canelo after outpointing Tyson at AT&T Stadium last November.
Paul has relentlessly called out Canelo but a fight between them now appears very unlikely to ever happen.
Topics: Boxing, Canelo Alvarez, Jake Paul
Nasir Jabbar