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 September 15 in Las Vegas.
However, he is free to box again from 17 August and Golovkin has accepted a reportedly improved offer to stage the rematch. Golovkin would get 42.5 percent, ESPN reports.
"I'm happy to inform that we have a fight September 15!", De La Hoya tweeted Wednesday. Negotiations still were ongoing. 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.
Golovkin was the holder of three of the major world titles but was recently stripped of the IBF belt after declining to agree to fight mandatory challenger Sergey Derevyanchenko.
That "Hail Mary" worked because now there is going to be a rematch that is perhaps the biggest fight in boxing.
The two boxing titans will meet almost one year after their first fight, which ended in a controversial draw - an underwhelming conclusion to the long-awaited blockbuster bout.