Most Valuable Promotions release statement amid Jake Paul vs. Canelo Alvarez fight cancelation

Just hours after Canelo Alvarez vs. Jake Paul was made official, the fight fell through, and Most Valuable Promotions released a statement following the news.

Amid Alvarez's four-fight deal with Saudi Arabia's Riyadh Season, he has been confirmed to be taking on several opponents. Fan-favorite Terence Crawford was originally set to collide with the Mexican boxing icon, but that was allegedly scrapped in favor of 'The Problem Child'.

Canelo Alvarez's next outing continues to be uncertain, and the rumored Jake Paul fight also looks in doubt.

After hearing of the bout falling through, Paul's Most Valuable Promotions released a statement to express their disappointment at how it all unfolded.

"MVP was deep in negotiations for a blockbuster fight between Jake Paul and Canelo Alvarez," Most Valuable Promotions said in a statement. "On Cinco de Mayo weekend in Las Vegas."

"A massive event for the Mexican and Puerto Rican and American fans, and it's disappointing to see how the situation unfolded."

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

"This situation is a reminder not to believe everything you read, especially when the current media environment is often controlled by those with hidden agendas, including promoters who have reporters on their payroll."

MVP continued, insisting Jake Paul is still in talks with several big-name opponents for his return to the ring.

"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."

"Jake Paul isn't going anywhere, and neither is MVP. We'll continue to disrupt boxing, on our terms."

Check out Most Valuable Promotions statement regarding Jake Paul vs. Canelo Alvarez below.