Deal reached for Gennady Golovkin vs. Canelo Alvarez rematch after negotiations appear to stall

Hours after the noon PT deadline imposed by Golden Boy Promotions for Gennady Golovkin to agree on the financial terms for a rematch against Canelo Alvarez, the much-anticipated middleweight title pay-per-view bout is on for Sept. 15 in Las Vegas.

Golden Boy founder Oscar De La Hoya, who promotes Alvarez, tweeted out that both sides have come to an agreement after much back and forth at the last minute, which included a brief period following the deadline where De La Hoya told ESPN "there is no fight."

Golovkin remained steadfast throughout a lengthy stretch of public and private negotiations that he would not bend on his demand for a 50-50 financial split. His promoter, Tom Loeffler, told the Los Angeles Times that the deal was dead following Wednesday's deadline because GGG "stuck to his principles." Loeffler didn't reveal the new terms of the deal, but said Golden Boy's Eric Gomez came back with a solution that satisfied Golovkin, with "purse percentage" being a main factor.

If the fight, which will take place at T-Mobile Arena during Mexican Independence Day weekend, did not come to fruition, Loeffler said Golovkin (38-0-1, 34 KOs), who holds the WBC and WBA titles, was prepared to face WBO champion Billy Joe Saunders in a unification bout. Alvarez, meanwhile, was expected to seek out top contender Daniel Jacobs, who fought to a close decision loss against Golovkin in 2017, according to Golden Boy.

Despite the fact that Mexico's Alvarez (49-1-2, 34 KOs) holds more leverage as the biggest PPV star in America, Golovkin openly carried anger from his opponent's pair of failed drug tests in February which caused their original May 5 rematch to be canceled when Alvarez was suspended for six months by the Voluntary Anti-Doping Agency.

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Golovkin was forced to settle for a split draw in their first fight last September -- also in Las Vegas -- despite the fact that most felt he had done enough to win. The aftermath saw GGG, a native of Kazakhstan, regularly referencing how much he conceded during the negotiation for the first fight, which reportedly included a 70-30 split for Alvarez.

The original offer from Golden Boy for the rematch before Alvarez's failed tests for the banned substance Clenbuterol (which he blamed on eating tainted beef in Mexico) was a 65-35 split. Golovkin eventually demanded an even 50-50 split and by remaining stubborn at the negotiating table, according to ESPN's Dan Rafael, he saw counter offers increase to 40 percent and a final offer Tuesday of 42.5 percent.

After Alvarez was suspended, Golovkin returned to the ring on May 5 against replacement opponent Vanes Martirosyan. The early knockout allowed Golovkin, 36, to equal Bernard Hopkins' division record of 20 title defenses. It also gave the IBF room to strip Golovkin of his third world title because Martirosyan was not deemed to be an acceptable opponent and GGG did not make plans quick enough to fight mandatory opponent Sergiy Derevychenko.

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Brian Campbell covers MMA, boxing and WWE. The Connecticut native joined CBS Sports in 2017 and has covered combat sports since 2010. He has written and hosted various podcasts and digital shows for ESPN... Full Bio

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