Sources -- Canelo Alvarez in talks with PBC about Munguia fight

Sources — Canelo Alvarez in talks with PBC about Munguia fight،

Mike Coppinger, ESPNMarch 6, 2024, 3:20 a.m.

Canelo Alvarez and Premier Boxing Champions are discussing a reunion, sources told ESPN, after the teams parted ways last week with two fights remaining on a three-fight deal signed in June.

Alvarez, boxing's biggest star, is in talks with PBC about a May 4 pay-per-view fight against fellow Mexican Jaime Munguia in Las Vegas, sources said.

Alvarez, ESPN's No. 4 pound-for-pound boxer, was lined up for an undisputed defense of the super middleweight championship against Jermall Charlo in May. However, Alvarez and PBC were unable to agree on the terms of the match, which contractually allowed him to explore other options.

Alvarez (60-2-2, 39 KO) discussed a return to streaming service DAZN for fights against Munguia and Edgar Berlanga this year, but when those talks fell through, the champion returned to the table with PBC, sources said.

Alvarez, 33, is exploring one- or two-fight deals with PBC, sources said. It usually also fights on Mexican Independence Day weekend in September.

Alvarez defeated Jermall's twin brother, Jermell Charlo, by unanimous decision in September to retain his undisputed super middleweight championship at the start of his three-fight partnership with PBC. When the deal was signed in June, Jermall Charlo was listed as the first opponent before ultimately withdrawing due to personal reasons. Jermell stepped in, while Jermall and Errol Spence Jr. loomed as possibilities for the second and third fights of the deal. That was before Spence was knocked out by Terence Crawford in a one-sided beatdown in July, eliminating a viable opponent for Alvarez.

Then, in November, Jermall failed to impress in a decision victory over Jose Benavidez Jr. The fight was Charlo's first in 29 months. It's a big event every time Alvarez fights, but there's little commercial demand for a clash with another Charlo after Jermell's listless performance in September.

With an Alvarez-Charlo fight less appealing to May, the door has opened for what promises to be a much more lucrative clash with Munguia. The 27-year-old has gradually improved under Hall of Fame coach Freddie Roach. Munguia, ESPN's No. 4 super middleweight, is coming off his career-best ninth-round TKO victory over John Ryder in January.

Alvarez has been the sport's biggest attraction since Floyd Mayweather Jr. retired in 2017. The all-time great's track record includes two wins over Gennadiy Golovkin and titles in four weight classes. His victory over Charlo was preceded by a decisive victory over Ryder in May in Mexico. Alvarez scored knockdowns in both fights.

There is also significant public demand for Alvarez to fight rising star David Benavidez.

“He’s parting ways with PBC, even though that fight for me and him was on the table… that says a lot,” Benavidez told ESPN last week. “…The reason this fight isn’t happening is because Canelo doesn’t want it to happen, plain and simple.”

The PBC stable is led by star boxer Gervonta Davis, who is expected to return against Frank Martin this summer. PBC's first event with Amazon's Prime Video will take place on March 30 in Las Vegas, a PPV featuring Tim Tszyu vs. Keith Thurman.