By Keith Idec
Gennady Golovkin has turned down what Oscar De La Hoya has said was his final financial offer for a rematch with Canelo Alvarez.
Tom Loeffler, Golovkin’s promoter, told Golden Boy Promotions president Eric Gomez of Golovkin’s decision before the deadline of noon PT Wednesday that Gomez and De La Hoya gave Loeffler on Tuesday.
Golovkin declined a 57.5-42.5 revenue split that would’ve favored Alvarez, more than the 65-35 split Golovkin initially accepted for a lucrative middleweight championship rematch that was supposed to take place May 5.
Their second fight, which would’ve been televised by HBO Pay-Per-View, was to be rescheduled for September 15 at T-Mobile Arena in Las Vegas.
“No fight,” De La Hoya told ESPN.com. “There is no fight. We want the fight. Tom Loeffler wants the fight. Clearly the only person here who doesn’t want the fight is Triple-G. The fans want the fight. We bent over backwards. We’ve come up and there’s no budge from him, so there’s no fight. One-hundred percent, there is no fight.”
According to ESPN.com, however, Golden Boy is willing to pitch an unspecified “Hail Mary” idea for deal that they’re in the process of sending to Golovkin.
An angered Golovkin demanded a 50-50 split for their rematch three weeks ago in large part because he wanted more compensation for the trouble Alvarez’s suspension for two failed performance-enhancing drug tests caused him. Kazakhstan’s Golovkin (38-0-1, 34 KOs) missed out on a huge payday May 5 because Alvarez (49-1-2, 34 KOs) was banned by the Nevada State Athletic Commission from fighting that night.
Golovkin instead fought Vanes Martirosyan on May 5 for a reported purse of $1.2 million. Martirosyan (36-4-1, 21 KOs), a junior middleweight contender who hadn’t fought in nearly two years, lost by second-round knockout at StubHub Center in Carson, California.
De La Hoya, Alvarez’s promoter, told Loeffler there was no way he would give Golovkin a 50-50 split. Continued negotiations led De La Hoya to improve his offer from 60-40 to 57.5-42.5 for a rematch of their controversial draw last September 16 at T-Mobile Arena.
Apparently, that still isn’t enough for Golovkin to accept terms for what would be boxing’s most profitable fight of 2018.
The 36-year-old champion could earn as much as $30 million if their rematch produces enough pay-per-view revenue. He might have had to fight five or six times to make that type of money for facing opponents other than Alvarez.
De La Hoya and Gomez pressured Golovkin for an answer by threatening to make a fight with Jacobs if Golovkin didn’t give them an answer by noon PT on Wednesday.
Brooklyn’s Jacobs (34-2, 29 KOs) gave Golovkin a difficult fight 15 months ago and would’ve provided Alvarez with a credible alternative if Golovkin declined Golden Boy’s offer. Golovkin dropped Jacobs in the fourth round and narrowly won a unanimous decision in their middleweight championship match in March 2017 at Madison Square Garden.
Jacobs isn’t satisfied with Golden Boy’s offer, but his handlers – promoter Eddie Hearn and manager Keith Connolly – are willing to continue negotiating to make that fight happen September 15 if Golovkin turned down Golden Boy’s improved offer.
Mexico’s Alvarez, 27, resumed training recently for what will be his first fight in almost exactly a year. His six-month suspension for twice testing positive for clenbuterol in February is expected to end after August 17.
Keith Idec is a senior writer/columnist for BoxingScene.com. He can be reached on Twitter @Idecboxing.