Canelo Alvarez and Jaime Munguia have finalized a deal for a May 4 fight at T-Mobile Arena in Las Vegas for Alvarez's undisputed super middleweight championship.
It's a one-fight deal for Alvarez and Premier Boxing Champions, sources said, after the sides parted ways last week with two bouts remaining on a three-fight agreement signed last June.
It's a coup for PBC to welcome Alvarez, boxing's top star, back into the fold for its second pay-per-view offering as part of its new partnership with Amazon's Prime Video. DAZN, the streaming service that has an exclusive deal with Golden Boy Promotions, will also carry the event.
Munguia's past 12 fights were streamed by DAZN. The 27-year-old Mexican fighter has been co-promoted by Zanfer and Golden Boy.
"On May 4, I'll be fighting Jaime Munguia at the T-Mobile Arena in LAs Vegas," Alvarez posted on social media. "Mexico vs. Mexico!"
Munguia (43-0, 34 KOs) is coming off a career-best win, a ninth-round TKO of John Ryder in January. He has steadily improved under the guidance of Hall of Fame trainer Freddie Roach. Now, Munguia will represent Alvarez's first Mexican opponent since Julio Cesar Chavez Jr. in 2017. Munguia is rated No. 4 by ESPN at 168 pounds.
Alvarez, ESPN's No. 4 pound-for-pound boxer, was lined up for a championship defense against Jermall Charlo in May. However, Alvarez and PBC couldn't agree to terms for the matchup, which contractually allowed him to explore other options.
Alvarez (60-2-2, 39 KOs) discussed a return to DAZN for bouts with Munguia and Edgar Berlanga this year, but when those talks stalled the champion returned to the table with PBC, sources said.
Alvarez, 33, plans to fight on Mexican Independence Day weekend in September as well.
Alvarez defeated Jermall's twin brother, Jermell Charlo, via unanimous decision in September to retain his undisputed super middleweight championship as he kicked off the PBC partnership.
When the deal was signed in June, Jermall Charlo was lined up as the first opponent before he ultimately withdrew because of personal matters. Jermell stepped in, while Jermall and Errol Spence Jr. loomed as possibilities for the second and third bouts of the deal. That was before Spence was TKO'd by Terence Crawford in a one-sided beatdown in July, eliminating one viable opponent for Alvarez.
Then in November, Jermall failed to impress in a decision win against Jose Benavidez Jr. The bout was Charlo's first in 29 months. It's a big event any time Alvarez fights, but there was little commercial demand for a matchup with another Charlo after Jermell's listless performance in September.
With an Alvarez-Charlo fight less appealing for May, the door opened for what promises to be a far more lucrative matchup with Munguia. Alvarez has been the sport's top attraction since Floyd Mayweather Jr. retired in 2017.
The all-time great's résumé includes a pair of wins over Gennadiy Golovkin and titles in four weight classes. His win over Charlo was preceded by a decision victory over Ryder in May in Mexico. Alvarez scored knockdowns in both fights.
The biggest potential fight out there for Alvarez remains a matchup against rising star David Benavidez.
"The reason why this fight is not happening is because Alvarez doesn't want it to happen, plain and simple," David Benavidez told ESPN last week.
PBC's stable also includes star boxer Gervonta Davis, who is set to return vs. Frank Martin this summer. PBC's first event with Prime Video will take place March 30 in Las Vegas, a pay-per-view headlined by Keith Thurman vs. Tim Tszyu.