A showdown between super middleweight contender Julio Cesar Chavez Jr. and middleweight titleholder Gennady Golovkin, which loomed as one of boxing's most anticipated fights, is all but dead, the promoters for each fighter told ESPN.com.
The fight was being planned as the main event of an HBO PPV card on July 19 at the Forum in Inglewood, Calif., but Golovkin is looking at alternatives because Chavez has been unable to come to an agreement with Top Rank, his promoter.
"I give it no better than 10 percent chance of happening," Top Rank chairman Bob Arum told ESPN.com. "There is not enough time now to do all the stuff we need to do to promote the fight, and then there is also the Canelo [Alvarez] fight on pay-per-view against [Erislandy] Lara in front of us [on July 12]. If we would have gotten this done when we should have gotten it done, we could do it, but we are out of time."
Arum said he has Top Rank president Todd duBoef making a last-ditch effort to close a deal with Chavez.
"They pulled the starting pitcher. They yanked me and the relief pitcher, Todd, is in. But I don't think he's going to have any more luck than I did," Arum said.
K2 Promotions managing director Tom Loeffler, Golovkin's promoter, said he is beginning to pursue other options for his fighter.
"We had agreed to terms with Top Rank a while ago and made many concessions to make the fight with Chavez happen," Loeffler told ESPN.com. "It has now dragged out much longer for Chavez to agree to the fight. While we would still like to make the fight, we are pursuing other plans under our HBO multi-fight [contract] to have GGG back on HBO in July."
Golovkin, who was willing to move up in weight, signed for the 12-round super middleweight fight weeks ago, but Chavez and Top Rank have been going back and forth, unable to come to terms. Arum said Chavez's contract with Top Rank expires in October 2015 and one of the central issues in the negotiation for the Golovkin fight was Top Rank's desire to have him sign an extension, but Chavez did not want to.
Arum said he relented on insisting on the extension and instead presented Chavez with two proposals. Under one proposal, Chavez would earn a certain amount of money to fight Golovkin without an extension. He would earn far more for the fight if he accepted the proposal with the extension.