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Golovkin v. Alvarez 2 finalized after last minute negotiations

The rematch between Gennady Golovkin and Canelo Alvarez has been finalized after last-minute negotiations were completed after a deadline set by Golden Boy Promotions.

The original date for the rematch on the Cinco de Mayo weekend was scrapped after Alvarez failed two drug tests and tested positive for clenbuterol.

Alvarez and his camp have insisted the failed tests were due to meat contamination, but GGG and his trainer Abel Sanchez weren't convinced and didn't hesitate to voice their cynicism.

Alvarez and Golovkin fought to a highly disputed draw in September of last year with many boxing experts and fans feeling Golovkin had done enough to claim the victory.

Oscar De La Hoya posted on Twitter that the rematch had finally been completed after his promotion company, Golden Boy Promotions, stated yesterday that today at noon would be the deadline to get the fight made.

Exact terms for the rematch have not been disclosed.

Golovkin (38-0-1, 34 knockouts) was insistent on receiving a better fight purse for the rematch after Alvarez's failed tests cost the Kazakhstan native a possible $20 million dollar payday.

Triple GGG was seeking a 50/50 split, something De La Hoya stated would never happen.

Alvarez (49-1-2, 34 KOs) was suspended for the failed drug tests but is eligible to return on Aug. 17.

Golovkin went on to destroy Vanes Martirosyan at the StubHub Center on May 5 for a purse of $1 million.  He would eventually be stripped of the International Boxing Federation championship for fighting Martirosyan instead of the mandatory challenger, Sergiy Derevyanchenko.

De La Hoya threatened to immediately book a different opponent for Alvarez if no deal was made and top fighters such as Daniel Jacobs were mentioned as possible candidates.

The bad blood between Golovkin and Alvarez should make the tantalizing rematch even more lucrative than the first fight, which generated 1.3 million pay-per-view buys and a $27-million live gate, a staggering figure, especially considering that many felt the novelty fight between Floyd Mayweather and Conor McGregor the month before may have hurt those financial figures.