London - Amir Khan made things official at the first stop of his press, where he announced his return to the ring after a year long absence against Mexico's Saul 'Canelo' Alvarez in Las Vegas on May 7th at the T-Mobile Arena in Las Vegas.

Alvarez (46-1-1) captured the vacant World Boxing Council middleweight title last November with a unanimous decision victory over Puerto Rico's Miguel Cotto.

Khan's last fight was in May 2015, a points welterweight victory over former WBO junior welterweight champion Chris Algieri.

He said last month he had a "few options" for his next fight, but a catchweight contest at 155lbs with WBC middleweight champion Alvarez was not considered to be one of those possibilities.

Against Algieri in New York Khan improved to 31-3 with his fifth victory in a row.

Golden Boy Promotions President Oscar De La Hoya, who has worked with Khan in the past, said there will be an immediate rematch if Khan is capable of pulling off the big upset win.

 “When I presented this fight to Amir Khan, I did not once think he would decline, because of who he is,” De La Hoya told The Guardian. “He is willing to take on everybody. He deserves the big fights. There is a reason Mayweather and Pacquiao didn’t want to fight him. Whether he’s come out on top or on the losing end, he’s been in great fights.

“If Amir Khan beats Canelo, we’ll obviously do the rematch. But I’m looking forward to working with him once again. We built him, we drove his career to new heights, we got him the big fights and now we’re getting him the mega-fight, which he deserves.”