By Edward Chaykovsky

As previously reported on BoxingScene.com, Gennady Golovkin’s promoter, Tom Loeffler of K2 Promotions, sent a counter-offer to Golden Boy Promotions, who handle Mexican superstar Saul 'Canelo' Alvarez (48-1-1, 34KOs).

Golden Boy CEO Oscar De La Hoya revealed last week that he sent an "eight figure offer" to Golovkin for a September 2017 showdown on HBO Pay-Per-View. The offer was reportedly around $10 million with an unknown pay-per-view percentage.

Canelo returned to the junior middleweight division last Saturday night in Texas and knocked out Liam Smith to capture the WBO championship. Two weeks ago, Golovkin (36-0, 33KOs) traveled to London and stopped Kell Brook to retain the IBO/IBF/WBC/WBA middleweight belts.

Canelo suffered an injury during his fight and won't return to the ring until 2017, with Cinco De Mayo weekend in May as the likely next stop. Golovkin plans to return in the fall.

Loeffler is looking to get a percentage split for Golovkin - and not a "flat fee." He wants a split that is similar to the finalized agreement for last year's mega-event between Floyd Mayweather Jr. and Manny Pacquiao - which saw a 60-40 split of the revenue in Mayweather's favor. At one time Mayweather also offered Pacquiao a "flat fee" of $40 million to do a pay-per-view fight, which Pacquiao rejected.

“A flat fee for a fight is usually given to a fighter or contender who’s clearly the ‘B’ side,” Loeffler told The Los Angeles Times. “My offer back to [Golden Boy] was based on a percentage, just like we saw in the Floyd Mayweather-Manny Pacquiao agreement.”

Eric Gomez, the president of Golden Boy Promotions, called Loeffler's counter-offer “ridiculous” when speaking with the Los Angeles Times.

Gomez says the fight is being held up by Golovkin, not Canelo, and urged the middleweight champion and his team to come to the table to make a deal.

“You know when they start promoting the Super Bowl? The Monday after the last one ends,” Gomez said to the paper. “That’s what we need to do. When it’s a super-fight like this, you need time to build up for it, to generate the most money possible. That’s what we want to do, and we’ve made a serious offer.”

“Golovkin said he takes great pride in boxing, that it’s not about money, that he’s willing to fight. He said we’d make a weak offer. We have all these deal points on the table and we’re not getting an answer.  I told [them], ‘Let’s sit down and continue the conversation,’ and I haven’t heard back. And if they seriously think we don’t want to make the fight, then take this offer. It’s the most money Golovkin’s ever made.” 

"I could come up with 10 or 20 points that prove Canelo is … by far the bigger draw. I don’t want to negotiate in the media, but if they want to discuss the rest of the points, come over, sit down. We’re serious about making the fight. No excuses to get out of it. We’re willing to make the fight. The notion we’re scared is ridiculous. Call our bluff. We’re ready to make the fight.”