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The three-fight deal signed last June between Mexican superstar Canelo Alvarez and Premier Boxing Champions is over after one fight, according to a report from ESPN and boxing reporter Dan Rafael

Alvarez (60-2-2, 39 KOs), who defended his undisputed super middleweight championship in October when he dominantly outpointed Jermell Charlo, is still expected to return to the ring on May 4 during Cinco de Mayo weekend, although the potential opponent pool changes significantly following his exit from PBC. No details regarding the reason for Alvarez's departure were provided and PBC founder Al Haymon doesn't speak with the media.

Despite pressure from fans for blockbuster fights against either David Benavidez or Terence Crawford, Alvarez appears headed toward a return to face unbeaten Mexican slugger and former 154-pound champion Jaime Munguia (43-0, 34 KOs) in Las Vegas, ESPN Mexico's Salvador Rodriguez reported.

Should Alvarez fight Munguia, who is co-promoted by Golden Boy and Zanfer Promotions and fights on DAZN, it would likely signify a reunion between Alvarez and Matchroom Sport promoter Eddie Hearn, who has promoted six of Alvarez's last eight fights. Hearn also promotes another potential Alvarez opponent in 2024, in the form of Edgar Berlanga (22-0, 17 KOs), who presents Alvarez with another chapter in the historic "Mexico vs. Puerto Rico" rivalry. 

PBC has its first card of 2024 scheduled for March 30 in Las Vegas -- a pay-per-view matching Keith Thurman and Tim Tszyu -- in the start of its new multi-year deal with Amazon Prime. PBC's deal with Showtime ended in December after the network closed its sports division after 37 years.

Alvarez's victory over Charlo quieted talk, at age 33, that he had lost a step following a three-fight stretch that included a loss to light heavyweight titleholder Dmitry Bivol and a pair of ho-hum decision wins over Gennadiy Golovkin, in their trilogy, and John Ryder.

Munguia, whose matchmaking had previously been criticized, is fresh off the two biggest wins of his career. The native of Tijuana, who is now trained by Hall of Famer Freddie Roach, won a close decision over former title challenger Sergiy Derevyanchenko last June before knocking Ryder out in nine rounds in January, after Alvarez went the distance with him.

Although Alvarez has not shown interest in a Crawford fight, referencing how little he would gain critically by fighting a smaller opponent moving up three weight divisions, it wouldn't be impossible to make after ESPN also reported Monday that the undisputed welterweight champion's one-year deal with PBC expired, making him also a free agent.