Almost two hours after the deadline set by Golden Boy Promotions, both Canelo Alvarez and Gennady Golovkin have come to terms for a rematch on September 15th in Las Vegas.
Promoter of Canelo Alvarez, Oscar De La Hoya, was the first to announce things a while ago.
The two fighters were originally scheduled to face other in a much-anticipated rematch for the WBA, WBC and IBF middleweight titles on May 5, before Alvarez withdrew from the fight in the wake of a failed drug test.
Golovkin (38-0-1-KO34) and Alvarez (49-1-2-KO34) produced a controversial draw in their first meeting on September 16, with many favouring the work of the undefeated Kazakh.
Alvarez, 27, said eating contaminated meat was the reason he tested positive for clenbuterol on 17 and 20 February.
"Still working on it", Golovkin promoter Tom Loeffler relayed following the deadline, as Golovkin was in Moscow for the opening ceremonies of the 2018 World Cup.
Golden Boy Promotions imposed a noon PT deadline for GGG to accept an improved offer under which Alvarez would get the majority of a 57.5 percent-42.5 percent revenue split.
"This is just the beginning", tweeted Golovkin following the announcement.