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Canelo has two fights remaining on his promotional deal with PBC, which began with last September’s decision win over Jermell Charlo

With just over two months remaining until Canelo Alvarez’s next scheduled bout, there’s little indication of who will actually welcome the Mexican superstar back to the ring. Canelo recently insisted that he’d be facing an American, with The Ring naming Jermall Charlo as his opponent, but Charlo himself took to social media to deny that any negotiations took place.

Now, ESPN’s Salvador Rodriguez reports that PBC is ready to pay Canelo’s (60-2-2, 39 KO) $35 million guarantee if he fights Jaime Munguia (43-0, 34 KO), but not if he insists on Charlo. The “other option,” Rodriguez claims, is Canelo pursuing options with other promoters.

Canelo signed a three-fight deal with Al Haymon and co. last year and intended to kick things off against Charlo, who ruled himself due to lack of preparation. Canelo instead fought his brother Jermell in September, dropping and dominating the former undisputed super welterweight champion over the course of twelve rounds.

Mauricio Sulaiman recent came out and said he’d enforce Canelo’s long-overdue mandatory defense against interim champion David Benavidez, but did not specify whether that applied to the May date. He is also Mauricio Sulaiman.

If he does not fight David Benavidez next, it’s as clear-cut a duck as you’re likely to see. That said, Munguia is an exponentially more appealing opponent than Charlo, who’s shown no desire to fulfill his responsibilities as middleweight champion or, frankly, fight a warm body. Pushing for Munguia over Charlo is the correct financial move on PBC’s part.

We’ll see how it plays out.

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