As first reported by BoxingScene.com, Luis Ortiz's camp has confirmed the Cuban will not be replacing Jarrell Miller to take on Anthony Joshua at Madison Square Garden on June 1.
Miller had been due to fight WBA, WBO, IBO and IBF heavyweight champion Joshua but then Miller was refused a licence after failing three pre-fight drug tests.
Ortiz, whose sole defeat from his 34 professional bouts came against WBC strap-holder Deontay Wilder in March last year, had been touted as a potential opponent for Joshua.
But Ortiz's promoter King Kong Boxing declared the 40-year-old would not be standing in, accusing Joshua's promoter Eddie Hearn of making a derisory offer.
"It’s a no go for June 1…sorry guys we were told to stay as quiet as possible and play possum until [the] fight had been made because every time someone called Luis out it would be a gimmick to promote themselves but it still didn't work," read a post on Instagram.
"We just received news from [the] promoter that it's a no go and it was all a gimmick and Hearn's low-ball offers will not be accepted and no contract even ever got sent so sorry to all the loyal fans…Luis really wanted this title shot."
Former world champion and Sky Sport pundit Johnny Nelson believes Ortiz does not have enough time to properly prepare for Joshua.
"There are a few names being thrown in the hat, and of course the big name that most of us over here would know is Luis Ortiz," Nelson told Sky Sports.
"But No 1, I don't think Ortiz has enough time to prepare properly for this fight, and No 2, if you're going to fight Luis Ortiz, you do not have him as a stand-in, because this guy is dangerous, a southpaw, he can bang, has got excellent boxing ability.
"I personally think it's a dangerous fight. You've got to train for this man specifically, don't have him as a stand-in. I remember when Lennox Lewis boxed Vitali Klitschko. Klitschko stepped in at last-minute notice, you just don't do it with a guy like this. Ortiz's people have come in and said more of the same thing, it's not enough time, he's still relevant, so why would he put himself in a position where he could possibly get turned over, taking a fight at too short notice."