For as much as the narrative entering Saturday's light heavyweight title bout in Las Vegas has rightfully centered upon the risk Canelo Alvarez is willingly taking by moving up two weight divisions, it's easy to look past what this fight means for Sergey Kovalev. 

The WBO light heavyweight champion is in his third reign overall as a 175-pound titleholder and has already built a great case for himself as a future Hall of Famer. That's why a showdown against Alvarez, the unified middleweight champion and biggest star in the sport, leaves the 36-year-old Kovalev with almost nothing to lose inside of the MGM Grand Garden Arena (DAZN, 9 p.m. ET). 

Kovalev enters the biggest payday of his career playing with house money. Considering his reputation among the most dangerous punchers in the sport over the last decade, it's a scary proposition for Alvarez to consider that Kovalev can go for broke without any consequences. 

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If Alvarez wins, critics will say Kovalev was past his prime. Should Kovalev win by knockout, the explanation will be that Alvarez was too small. It's because of that reality -- of which Kovalev is well aware -- that the pressure is off of him for the first time in years. 

The fight also gives Kovalev a chance at late career redemption following a trio of defeats where he was criticized for being a frontrunner. New trainer Buddy McGirt has been credited with not only getting Kovalev to focus for the first time in years, but for helping him find joy once again in his craft. 

"I'm here for my glory -- for my story, for my history," Kovalev said. "A couple fights ago, when I started to work with my new team, Buddy McGirt and Teddy Cruz, they gave me back my belief in myself. With this team I can do more. You can see, with my last fights, a little bit of change to my technique and style. I'm ready to fight 12 rounds."

So much of the fight's intrigue lies in seeing how Alvarez will be able to absorb Kovalev's power in a new weight class. Conversely, a key focus will be on how Kovalev, who has a history of weakness to body shots, deals with Alvarez's heavy hooks downstairs. 

"This is the weight I'm usually at during my normal life so it's natural for me," Alvarez said. "I'm entering his zone of comfort, but we're ready for this. We have the intelligence and skill to beat Kovalev and win the fight. It's going to be one of the most important fights for me and my career. This title is very important, to be a four-time world champion in different divisions."

Kovalev said he has nothing but respect for not only the chance Alvarez is taking, but his decision not to lean on a catchweight of any kind to intentionally weaken the bigger champion.

"In boxing, only real men try to prove themselves, that they're a real fighter, and Canelo is that," Kovalev said. "But this is my division, I have been in this division since my first fight and I want to make my history, my story."

Tale of the tape

FighterSaul AlvarezSergey Kovalev

Nickname

Canelo

Krusher

Record

52-1-2, 35 KOs

34-3-1, 29 KOs

Titles

WBC, WBA, lineal middleweight

WBO light heavyweight

Age

29

36

Height

5-foot-8

6-foot

Reach

70.5 inches

72.5 inches

Stance

Orthodox

Orthodox

Hometown

Guadalajara, Mexico

Chelyabinsk, Russia

Best wins

Miguel Cotto UD12 (2015), Gennady Golovkin MD12 (2018), Daniel Jacobs UD12 (2019)

Nathan Cleverly TKO4 (2013), Bernard Hopkins UD12 (2014), Jean Pascal TKO8 (2015)

Notable losses

Floyd Mayweather MD12 (2013)

Andre Ward UD12, TKO8 (2016, 2017), Eleider Alvarez KO7 (2018) 

Odds

-400

+310

What's at stake

Kovalev enters the second defense of the WBO title he regained in February. A victory would give his brand an opportunity for a late rebirth, not to mention a possible big-money rematch with Alvarez. Pulling the upset would also give Kovalev, according to his manager Egis Klimas, a shot at being called the greatest boxer in Russian history given Alvarez's level of star power and pound-for-pound ranking. 

For Alvarez, this is the opportunity to become just the fourth Mexican fighter to win world titles in four weight divisions (although Alvarez's claim at 168 pounds came through a secondary title win). Given that he's moving up, the downsides aren't all that big for Alvarez should he lose, provided he does so without absorbing damage from a bigger puncher. 

Who has the edge?

1. Power: Alvarez has evolved into a dangerous counter puncher as a middleweight and showed against Rocky Fielding at super middleweight that his power to the body translates just as well at the higher weight. But Kovalev is an altogether different kind of punching threat at 175 pounds and carries a heavy advantage given his track record as a finisher with a heavy and accurate jab to set things up. Edge: Kovalev

2. Speed: This is the category that could prove to be Kovalev's Kryptonite should the smaller Alvarez be able to counter at will. Alvarez's hand speed as a middleweight held up well in big fights against Gennadiy Golovkin and Daniel Jacobs, which should make his advantage seem even larger against Kovalev. For whatever Alvarez lacks from a speed standpoint in terms of natural athleticism, he has offset nicely with timing. Edge: Alvarez

3. Technique: Even though Alvarez has an edge here when comparing their craft against one another, Kovalev is no slouch when it comes to pure boxing. He proved against Bernard Hopkins and in his rematch with Eleider Alvarez just how technical he can be in using his big jab to control distance and set up combinations. Canelo has always shown intelligent instincts as a smart boxer and will need to do just that early on to navigate Kovalev's heavier firepower. Edge: Alvarez 

4. Defense: Kovalev showcased a recommitment to defense in his shaky decision win over slugger Anthony Yarde in August and rallied back after a disastrous round that nearly ended the fight. His instincts, however, still lean in the direction of aggression and opening himself up for the kind of counter shots and body attack that allowed Ward to break him down. Alvarez is much more responsible and committed to protecting himself from being hit flush. Edge: Alvarez

5. Intangibles: It would be easy to lean on Kovalev's suspect chin or Alvarez's repeated ability to get the benefit of the doubt from judges as the single most important factors to determine who wins on Saturday. But the unknown still lingers over this fight as a cloud, and the fact that Alvarez is unproven in this division means that Kovalev's advantages in height and power still threaten to play a major role. Alvarez also has the added distraction of a feud with promoter Oscar De La Hoya having become front-page tabloid headlines during a time when Kovalev, adjusting well with McGirt, has never been more at ease before a fight and, according to his promoter, this happy. Edge: Kovalev

So who wins Canelo vs. Kovalev? How many rounds does it last? And what best bet should you make for a 7-1 payout? Visit SportsLine now to see Peter Kahn's best bets, all from the fight game insider who called the draw at 20-1 in the first GGG-Canelo fight.