Canelo Alvarez is now a free agent, according to his trainer and manager Eddy Reynoso.
It emerged early in September that the Mexican star was suing his promoter Oscar De La Hoya and Golden Boy Promotions, as well as his broadcaster DAZN, over their historic deal.
Canelo put pen to paper on a $ 365million eleven-fight agreement touted as the richest in the history of sport when he signed it less than two years ago.
The deal called for a $ 15m tune-up bout against Rocky Fielding in December 2018, followed by ten fights for a guaranteed $ 35m each.
However, after just two further bouts against Daniel Jacobs and Sergey Kovalev, problems have started to arise.
It’s claimed DAZN attempted to drastically cut the guarantee ahead of Canelo’s next fight as – among other issues – they were not happy with the level of opposition faced so far.
As a result, Canelo took legal action seeking damages and his free agency.
Now, his trainer and manager Reynoso has claimed they have reached a result.
The statement read: “In my role as a manager and coach of Saul ‘Canelo’ Alvarez I allow myself to communicate to the boxing community and to all our fans that, starting today, November 6, Canelo becomes a free agent.
“So we are ready to continue with his boxing career.
“All this time we have been working very hard in the gym with a lot of responsibility and discipline, to be in great physical shape and ready to fight this year.
“And it will be! We will announce date, rival and place very soon.
“We will return stronger than ever to keep growing and showing that Mexican boxing is the best.”
As yet, there is no response from Oscar De La Hoya, Golden Boy or DAZN to confirm their position regarding this statement.