Mexican undisputed super middleweight champion Canelo Alvarez and Premier Boxing Champions (PBC) are reportedly involved in a financial dispute of sorts that might result in Alvarez’ planned May 4th fight being scrapped entirely or altered to feature Mexican contender Jaime Munguia rather than the unknown American opponent Alvarez had revealed he would fight next.

While the particulars of Canelo Alvarez’ (60-2-2, 39 KO’s) signing to PBC had not been divulged to the public, the latest reports indicate that Alvarez was guaranteed a whopping $35 million to compete for his next fight. However, PBC appears unwilling to pay Alvarez if he intends to fight Jermall Charlo (33-0, 22 KO’s)―who was last reported to still be dealing with issues pertaining to his mental health, and does not appear viable to engage in a high-stakes match against the likes of Alvarez.

Additionally, there are doubts as to how much the bout between Alvarez and Charlo would make if it was held, and PBC appears unwilling to gamble the guaranteed amount of $35 million to see the two in the ring. Following Jermell Charlo’s (35-2-1, 19 KO’s)―twin brother of Jermall Charlo―lackluster performance against Canelo Alvarez on September 30th, it is likely that PBC fears there might be less interest in Alvarez facing Jermall Charlo; especially given Charlo’s long absence from the ring, his recent form and his aforementioned mental health problems.

According to ESPN Mexico, PBC is only willing to guarantee Alvarez his $35 million if he chooses to engage Jaime Munguia (43-0, 34 KO’s) who is currently co-promoted by Golden Boy Promotions. Despite Munguia’s affiliation to Golden Boy, his signing to Zanfer Promotions seemingly offers him some wiggle room to fight on another platform if needed, including PBC’s.

Given Munguia’s apparent popularity in Mexico, and the fact Alvarez’ planned May 4th match is set to transpire during Mexico’s annual celebratory Cinco de Mayo weekend, PBC appears to be angling to put Munguia forth as an opponent due to the potential profitability of such a fight.

Presumably, this means that Alvarez is not interested in fighting David Benavidez (28-0, 24 KO’s) or Terence Crawford (40-0, 31 KO’s)―two out of three American fighters whom Canelo Alvarez had been linked to. While Alvarez had reiterated his desire not to face Crawford during an appearance on TV Azteca, Crawford still appeared to be a viable option due to the financial profitability of the match.

Thus far, Alvarez has competed in only one fight for PBC; his September 30th fight against former undisputed super welterweight/junior middleweight champion Jermell Charlo. With his contract with PBC dictating he would fight thrice, Alvarez is still expected to uphold his part of the contract and fight two more times under PBC’s banner, unless the rumors of financial insolvency within PBC prove to be correct.

Thus far, there has been no boxing event by PBC scheduled for May 4th, and despite recent reports, anything can still ensue in the upcoming days or weeks. However, it does appear that Alvarez’ partnership with PBC is coming to a close at the end of his contract with Alvarez’ previous experience with Golden Boy suggesting there will be a split between the two parties at some point in time.