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Canelo Alvarez has signed a four-fight deal with Riyadh Season, scuttling reports late Thursday that he was close to a deal for a boxing match with Jake Paul in May.

The Riyadh Season pact was announced by Turki Alalshikh, chairman of the General Entertainment Authority of Saudi Arabia. Financial terms were not released.

A Paul fight is not part of the four-bout agreement.

Instead, Ring Magazine reported Alvarez is expected to take on Terence Crawford in September, following a fight in Saudi Arabia in May. The next events likely would be in February 2026 and October 2026 in Saudi Arabia.

MMA Junkie reported the fight with Crawford, the super welterweight champion, would take place at Allegiant Stadium in Las Vegas.

In a video posted to social media outlet X, Alalshikh didn’t name a September opponent for Alvarez, just teased that it would be “the big fight in the history of boxing.”

Alvarez (62-2-2) is the reigning unified world super middleweight champion, and he previously captured world titles at light heavyweight, middleweight and light middleweight.

The 34-year-old Guadalajara, Mexico, native most recently defeated Edgar Berlanga by unanimous decision on Sept. 14 in Las Vegas.

Crawford (41-0), a 37-year-old Nebraskan, is the unified welterweight champion and WBA junior middleweight champion.

Paul’s promoter, Most Valuable Promotions, issued a statement Friday morning blasting the Alvarez camp and others.

“MVP was deep in negotiations for a blockbuster fight between Jake Paul and Canelo Alvarez on Cinco de Mayo weekend in Las Vegas, a massive event for the Mexican, Puerto Rican and American fans, and it’s disappointing to see how the situation unfolded,” the statement read.

“MVP operates with integrity, transparency, and respect for the sports, its athletes, and the fans. Unfortunately, not everyone in the boxing world shares those values.”

MVP said it will continue to schedule meaningful fights for Paul.

“We remain in active discussions with multiple high-profile opponents and are committed to delivering the biggest fights, the most exciting events, and to working with partners who share our values and our commitment to boxing and its fighters.”

Paul owns an 11-1 boxing record, but he has yet to oppose a fighter close to Alvarez’s level. The 28-year-old Cleveland native rose to fame as an internet personality, garnering a huge social media following.

Paul’s stardom peaked when he beat 58-year-old Mike Tyson by unanimous decision on Nov. 15 at the Dallas Cowboys’ stadium in Arlington, Texas. The eight-round match drew gate revenues of $18.1 million — a record for a boxing or mixed martial event held outside of Las Vegas.

Paul vs. Tyson attracted a peak of 65 million concurrent streams on Netflix, a streaming record for a live sporting event.

–Field Level Media