Los Angeles (AFP)
World middleweight champion Saul "Canelo" Alvarez has been stripped of his IBF belt after failing to reach an agreement to defend his title, which is a must, revealed his promoter Oscar De La Hoya Friday in a statement.
Alvarez, 29, who also holds the WBA and IBC middleweight titles, had to give up his IBF crown after negotiations for a fight with Ukrainian Sergiy Derevyanchenko failed.
"We are extremely disappointed that the IBF is forcing the best fighter on the planet to give up its world title," said De La Hoya, himself a multiple-time world champion before becoming a promoter.
"We offered his team (Derevyanchenko) an unprecedented amount of money for a fighter of his size and limited popularity but the truth is that I am now certain that they never intended to to conclude an agreement, "De La Hoya continued.
"They wanted to force us to give up the Canelo belt, which is an insult to boxing and, more importantly, an insult to boxing fans."
Alvarez, who won the IBF belt in May 2019 after defeating Daniel Jacobs in 12 rounds, was hoping to fight Derevyanchenko in October.
© 2019 AFP