Golden Boy Promotions President Eric Gomez, who guides the career of Mexican superstar Saul "Canelo" Alvarez (49-1-2, 34 KOs), says the rematch with Gennady Golovkin (37-0-1, 34 KOs) is currently dead in the water.

They were initially scheduled to fight for a second time on May 5th - but the fight was called off when Canelo tested positive for the banned clenbuterol - which prompted the Nevada State Athletic Commission to suspend the Mexican star for six months.

According To Gomez, the two sides had agreed to just about everything - for a planned rematch on September 15th in Las Vegas.

But things took a turn for the worse, says Gomez, when Golovkin came back with a fresh batch of demands.

“As of right now, it’s dead,” Gomez said to the Press Enterprise.

“We wasted five, six weeks – give or take – waiting on an answer from them. All the major deal points were done. They came back [on Thursday] with ridiculous demands, just ridiculous. Really, to wait five, six weeks for the type of answer they came back with [on Thursday], it’s insulting.”

Gomez said the deal for the rematch was in place before and after it was canceled for May 5.

At the moment Golovkin is looking for a better financial package.

He believes Golovkin made these fresh demands because he's having seconds thoughts about the fight - out of pure fear.

"We’re moving on. I do believe [Golovkin is scared], because it’s been one excuse after another,” Gomez said. “… With what they came back with [on Thursday], they clearly want to kill the fight.”

Golden Boy has already reached out to several possibly replacements - like former WBA champion Daniel Jacobs, WBO middleweight champion Billy Joe Saunders (should he beat Martin Murray next month), and Golden Boy promoted middleweight contender Gary "Spike" O'Sullivan.

The first bout between Canelo and Golovkin took place in September 2017, and it ended in a controversial twelve round split draw at the T-Mobile Arena in Las Vegas.