By Jake Donovan

The news of Canelo Alvarez returning to HBO hit the rumor mill quick enough to where its eventual announcement became boxing’s worst kept secret.

Despite the whispers of such a move taking place, the brass at Showtime had to read about it through social media instead of hearing it firsthand. The network has aired Alvarez’ last five fights, the first coming in Sept. ’12 in a move that marked what was viewed at the time as the beginning of the end of Golden Boy Promotions’ relationship with HBO.

Included among Alvarez’ run was the highest grossing pay-per-view event in boxing history, albeit in a loss to Floyd Mayweather Jr. last September. He has since fought twice, both bouts coming on Showtime PPV in 2014, posting wins over Alfredo Angulo and Erislandy Lara.

Initial plans called for three PPV headliners in 2014, but Golden Boy backed off that stance following Alvarez’ win over Lara in July, realizing the year was already overflowing with pay-per-view events amidst a declining market. An announcement soon followed that the former 154 lb. titlist would next appear on premium cable, whether Showtime or HBO rather than PPV.

According to Showtime Sports Executive Vice President Stephen Espinoza, a verbal agreement was in place to keep Alvarez on the network.

“The surprising and disappointing part of this whole situation was the deceitful manner that Oscar went about the deal,” Espinoza told BoxingScene.com Editor-In-Chief Rick Reeno. “A few weeks ago, Oscar came to us with a multi-fight, multi-year proposal on Canelo's behalf. It was a multi-year exclusive deal. He made the proposal and we accepted it exactly as he proposed. Oscar said 'great' and he promised that Canelo would be at Showtime for many years to come and he would arrange for Canelo to have a celebratory dinner with us.

“Now fast forward a few weeks, he's reneged on those promises and he hasn't really offered any rational explanations for doing so, not that there really could be one.”

The incident marks the second time in less than two months in which Showtime believed to have a deal in place for a major fight involving a Golden Boy fighter, only to watch that fighter return to HBO.

Showtime was in the process for finalizing terms for a planned September 27 showdown between lineal light heavyweight king Adonis Stevenson and unified titlist Bernard Hopkins. Instead, Hopkins and Golden Boy called an audible and signed for a November 8 showdown with Sergey Kovalev, to air live on HBO.

Hopkins was the last Golden Boy fighter to headline an HBO card, with his 12-round title win over Tavoris Cloud last March. Alvarez headlined the last show of a long-term output deal between Golden Boy and HBO, which came in the form of his 5th round knockout of Kermit Cintron in Nov. ’11.

Both fighters are now back with HBO, with Alvarez aboard for the long haul after being away from the network for more than two years. The move came as part of marching orders handed by the fighter to de la Hoya, who pleads ignorance to Showtime’s claims of betrayal.

“No verbal agreement,” de la Hoya remarked during a media conference call when asked if he had in fact reached a deal with Showtime before shopping Alvarez back to HBO. “I’m obviously doing what Canelo is asking of me. Canelo has expressed many months ago that he would love to explore the possibility of fighting on HBO.

“As his promoter, I have to obviously do whatever is possible to grant his wishes.”

The relationship between Golden Boy Promotions and Showtime has considerably soured after the two sides were bedfellows for the better part of the last two years. The beginning of the end came with the internal rift between de la Hoya and Richard Schaefer, who eventually resigned from his longtime role as CEO this past June. The two disagreed over de la Hoya extending an olive branch to Bob Arum—who promoted de la Hoya for most of his Hall of Fame career—and also wanting to reestablish a working relationship with HBO, who issued a ban on fighters under the Golden Boy/Al Haymon banner in lieu of serving as an outlet for showcase fights without long-term commitment.

Neither move sat well with Schaefer, who long ago grew tired of dealing with Arum. He also felt de la Hoya’s reaching out to HBO was insulting to the present working relationship with Showtime, given the promises in place at the time.

With Schaefer now out of the Golden Boy fold while the two sides are embroiled in an ongoing lawsuit, de la Hoya has assumed full control of the company. In bringing his two biggest stars to HBO and also his presence sorely lacking at several of Golden Boy’s recent events on Showtime, it appears that the marriage is over, at least has fallen apart.

Despite his giddiness over a restored union with HBO where he spent most of his career, de la Hoya hopes there is enough to go around to keep everyone happy.

“I hope it doesn’t ruin any kind of relationship,” de la Hoya said of the current state of affairs with Showtime. “(Alvarez returning to HBO) is a great thing for the sport of boxing and for the fans. I hope it doesn’t affect (anything).”

Jake Donovan is the Managing Editor of BoxingScene.com, as well as the Records Keeper for the Transnational Boxing Ratings Board and a member of Boxing Writers Association of America. Twitter: @JakeNDaBox