It was pretty clear-cut.
Either Canelo had to defend his WBC middleweight title against GGG or he had to drop the belt and GGG would become the WBC belt holder.
There was no wiggle room and it looks like Canelo at the moment would rather drop belt.
Golden Boy official tells me @Canelo is vacating the WBC title…
— Lance Pugmire (@latimespugmire) May 18, 2016
While it is still possible for Canelo-GGG to fight, by dropping the belt Canelo now has leverage for a catchweight, he can negotiate on his terms and eliminates any purse bids from happening.
Golden Boy still plans on negotiating, but now without a deadline and pressure of having the belt, those negotiations could be a bit more complicated.
We will see had it pans out in the next couple of weeks.
Here is Canelo’s statement.
“After much consideration, today, I instructed my team at Golden Boy Promotions to continue negotiating a fight with Gennady ‘GGG’ Golovkin and to finalize a deal as quickly as possible. I also informed the WBC that I will vacate its title. For the entirety of my career, I have taken the fights that no one wanted because I fear no man. Never has that been more true than today. I will fight ‘GGG,’ and I will beat ‘GGG’ but I will not be forced into the ring by artificial deadlines. I am hopeful that by putting aside this ticking clock, the two teams can now negotiate this fight, and ‘GGG’ and I can get in the ring as soon as possible and give the fans the fight they want to see.”
Here is what Oscar had to say.
“There is no denying that Canelo is the biggest star in the sport of boxing. He is eager to get in the ring with ‘GGG’ to show the world that he is also the best pound for pound fighter in the sport, but we won’t negotiate under a forced deadline. Now that the WBC title is off the table, I am hopeful that ‘GGG’ and his promoter K2 Promotions will come to the table in good faith and get this deal done.”