By Rick Reeno

In an interview with Ernesto Castellanos of NotiFight/BoxingScene, Arum discussed the ongoing contractual dispute with Chavez Jr.

For several weeks, Arum and his company were attempting to finalize a July HBO Pay-Per-View event, where WBA/IBO middleweight champion Gennady Golovkin would have faced Chavez at the super middleweight limit of 168-pounds.

The main sticking point, which caused the fight to fall through, was a clause in the bout agreement which extended Chavez's contractual obligation to Top Rank for two more fights. Chavez was willing to take the fight - but only if Top Rank removed the language for a two-fight extension from the bout agreement. Top Rank was unwilling to pay Chavez a hefty purse without binding him for two more fights. Neither side budged from their position and the Golovkin fight fell through.

"Things have been tough with Chavez because his adviser Billy Keane has given him bad advice. Even his father, Julio Cesar Chavez, has told him to continue with Top Rank. He urged him to sign the contract that we offered for the fight. We offered seven million dollars for the fight with Gennady Golovkin, but he did not accept. Now we can't do that fight because Golovkin is already involved in another fight. We offered that sum to Julio, and told him that he would earn [a guarantee of] five million for the next fight, and then [if he won he would earn] ten million for the next, but he did not accept. We're going to continue to push, we will offer other opponents and see what happens," Arum revealed.

Keane has a much different take on the situation.

"In response to Bob's most recent misrepresentations and outright lies in his latest interview with BoxingScene, Bob's strategy has always been that if he says things loud enough and long enough someone will eventually believe it - but it won't work this time. Does he really think the public is that stupid that they will believe that the reason Chavez and Golovkin is not happening is because Bob was trying to be so protective and helpful to Julio? This is just more of his nonsense thinking the public and everyone else, except him, are stupid. [Regarding] Bob's promises, commitments and for that matter his contractual obligations - did Tim Bradley ever get the $10 million that Bob promised him for a rematch if he were to beat Manny Pacquiao in their first fight? He has to realize that the fans are not that dumb and the fighters are not intimidated or afraid of him - and certainly Julio is not," Keane told BoxingScene.com