icon Updated at 12:59 PM EDT, Thu Sep 20, 2012

Caballero-Walters Purse Bid Won By Canelo Promotions

By Jhonny Gonzalez

BoxingScene.com was informed that Canelo Promotions was the sole bidder in this morning's purse bid, held by the World Boxing Association in Panama. The promotional company, owned by WBC champion Saul "Canelo" Alvarez, submitted the minimum bid of $120,000 dollars to secure to the rights to the featherweight bout between "regular" champion Celestino Caballero (36-4, 23KOs) and mandatory challenger Nicholas Walters (21-0, 17KOs).  There will be a 75-25 split in favor of the champion.

The fight actually taking place is still unlikely. Caballero, refusing to fight on certain dates and turning down certain venues, missed out on a purse of over $300,000 to fight Mikey Garcia, and instead will receive only $90,000 for Walters. Those close to the situation are expecting Caballero to vacate his title and make a move in weight to 130-pounds.