The boxing world just got rocked. Fresh off the news that legendary boxer Canelo Alvarez will not fight Terence Crawford in what was a highly anticipated bout expected for September, the 34-year-old native of Guadalajara, Mexico and Jake Paul are finalizing a deal for a May 3 clash, per ESPN's Mike Coppinger.

One day, the mega-fight between Canelo Alvarez and Terence Crawford is on; the next day, it’s off. The latest update indicates there's been a significant snag.

Canelo Alvarez has signed a multi-fight deal that could see him box rival pound-for-pound star Terence Crawford in September in Las Vegas after a bout in Saudi Arabia in May; Canelo had been in talks

Canelo Alvarez has been linked with fighting Jake Paul as part of his four-bout deal with Saudi Arabia, though the Mexican should be cautious about taking on the American

UFC President Dana White isn’t surprised by Turki Alalshikh inking Canelo Alvarez to a four-fight deal, nixing his nearly-finalized bout with Jake Paul at the 11th hour.

While Paul has to head back to the drawing board, Canelo instead moves into bouts against William Scull in Riyadh, Saudi Arabia on May 3, ahead of a box office-breaking bout again