CANELO ALVAREZ is a free agent after a dramatic falling out with Golden Boy promotions, his manager has claimed.
A statement released by Eddy Reynoso on Friday evening confirmed that the move will allow Canelo to 'continue with his boxing career'.
The Mexican fell out with Golden Boy, founded by former six-weight world champ Oscar De La Hoya, earlier in the year.
In September, he filed a lawsuit against the company and streaming service Dazn over an alleged non-payment of fight money.
The 30-year-old's 11-fight contract with Golden Boy, signed in 2018, was said to be worth around £280million.
But Canelo claimed he was unhappy with the payment of the £27m fee he is owed per fight.
And he vowed to take the matter to court, specifically for breach of contract, intentional and negligent interference with a contract, fraud and breach of fiduciary duty.
In a statement given to The Athletic, Alvarez said: "I’m the pound-for-pound No1 in the world.
"I’m not scared of any opponent in the ring, and I’m not going to let failures of my broadcaster or promoters keep me out of the ring.
"I filed the lawsuit so I can get back to boxing and give my fans the show they deserve."
Dazn are said to have agreed a deal with Golden Boy worth £30.9m for each of the middleweight king's fights.
But Alvarez's supposed inability to fight a major opponent led to the streaming service reportedly offering just half his usual fee.
Amid the coronavirus pandemic, the fighter has suggested he was willing to discuss a fresh offer 'in good faith'.
According to the lawsuit, that alternative never arrived and Alvarez's team claim to have freed themselves from that contract.
The September filing alleged: "Despite repeated promises that an alternative offer was imminent, Dazn failed to make a proposal to either Golden Boy Promotions or Alvarez for several months.
"When Golden Boy Promotions and Alvarez proposed opponents, Dazn refused to confirm that it was prepared to broadcast Alvarez’s September 2020 bout or that it would pay the contract license fee."
Fans have not seen the four-weight world champ in the ring since November 2019.
Having conquered the light middleweight, super middleweight and middleweight divisions, he beat Sergey Kovalev to win the WBO light heavyweight belt.
Considered by many to be the top pound-for-pound boxer in the world, Alvarez appears very unlikely to fight in 2020.
A super-middleweight clash with undefeated Brit Billy Joe Saunders in the summer did not come to fruition.
And welterweight star Errol Spence Jr told SunSport last month that a showdown with Canelo in front of 80,000 fans was very much on his mind.
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