Canelo Alvarez will not be fighting Terence Crawford next, according to a report from The Ring Magazine.

It was The Ring that initially reported negotiations were underway for a bout between Alvarez and Crawford, two of best pound-for-pound boxers in the world. Alvarez (62-2-2) is a four-division champion, currently reigning at super middleweight, while Crawford (41-0) is also a four-division champion, currently reigning at middleweight (though he has spent much of the past few years at welterweight).

The Ring, owned by Riyadh Season boss Turki Alalshikh, initially stated Alvarez and Crawford were to meet in the main event of a Riyadh Season show in Las Vegas in September, with an exact date still to be decided. Now, the fight is off altogether.

The disappointing news comes amid rumors that Alvarez could instead face Jake Paul, the popular influencer-turned-boxer that holds wins over the likes of Mike Tyson, Nate Diaz, Anderson Silva, and Tyron Woodley. Fight Freaks Unite reports there are talks of Alvarez and Paul fighting on May 3 as part of Cinco de Mayo weekend, the annual celebration during which Alvarez has frequently competed.

Alvarez and Paul have both discussed the possibility of a fight in the past, though neither has publicly addressed the latest reports and rumors directly.

Paul has cryptically hinted at an upcoming fight announcement on his social media, which can be seen below.

Though a bout between Alvarez and Paul once seemed like a pipe dream, Paul has proven himself to be one of the biggest draws in all of combat sports. Paul’s recent boxing match with Tyson this past November set numerous viewership records for Netflix, with the streaming giant announcing that the bout was viewed in over 60 million homes.