On Thursday night it was revealed Canelo Alvarez was stripped of his IBF middleweight title. The Mexican Fighter was stripped due to failed negotiations between his camp and Sergiy Derevyanchenko.<\/p>\n
Since the news, Golden Boy Promotions and Oscar de la Hoya released a statement<\/a> on Canelo\u00a0being stripped<\/a> where he was not happy.<\/p>\n \u201cWe are extremely disappointed at the IBF for forcing the world\u2019s best fighter to relinquish his world title. We have been in serious negotiations with Sergiy Derevyanchenko\u2019s promoter. We offered his team an unprecedented amount of money for a fighter of his limited stature and limited popularity. But, the truth is that I\u2019m now certain they never had any intention of making a deal. But instead, they wanted to force us to relinquish Canelo\u2019s belt. This is an insult to boxing and more importantly an insult to the boxing fans of the world.<\/p>\n \u201cThis decision validates already existing concerns about the credibility of the IBF championship. Canelo inherited a mandatory challenger by defeating Daniel Jacobs, the man who beat Derevyanchenko, so to strip him of his title without giving him enough time to make the best fight possible is truly what is wrong with boxing, and I plan to aggressively consider all legal actions possible.\u201d<\/p>\n Now, after a day to think about it, Canelo Alvarez released a statement of his own. Where he, like de la Hoya, was not happy with the decision. Alvarez has captured the IBF middleweight title in his last fight when he beat Daniel Jacobs<\/a>.<\/p>\n I'm very upset and ashamed with my fans, to be unfairly stripped of my belt by the IBF, but specially when i did not have the knowledge of the agreement that GBP match maker had signed.<\/p>\n — Canelo Alvarez (@Canelo) August 2, 2019<\/a><\/p><\/blockquote>\n\n