Canelo withdraws from May 5 rematch with GGG

It's official.

Canelo Alvarez withdrew Tuesday from his highly-anticipated May 5 rematch against Gennady Golovkin.

Golden Boy Promotions president Eric Gomez made the announcement during a press conference at Golden Boy’s headquarters in Los Angeles.

Gomez said company officials had been advised in recent weeks that Alvarez is not likely to be cleared by the Nevada State Athletic Commission to fight Golovkin at T-Mobile Arena in Las Vegas.

Gomez added that the rematch could be rescheduled for August or September. However, Alvarez will be required to appear at a hearing before the NSAC on April 18 -- either in person or via telephone -- regarding his failed drug tests.

Alvarez (49-1-2, 34 KO's), 27, the lineal 160-pound champion, tested positive for trace amounts of the banned substance clenbuterol in random urine tests conducted by the Voluntary Anti-Doping Association on Feb. 17 and Feb. 20 in his hometown of Guadalajara, Mexico. As a result, he was temporarily suspended by the NSAC.

Tom Loeffler, Golovkin’s promoter, requested a permit to promote a boxing event at MGM Grand Garden Arena on May 5. The commission is expected to approve the request at its Thursday meeting.

Golovkin (37-0-1, 33 KO's), 35, a Kazakhstan native fighting out of Los Angeles, could face 33-year-old Irishman Gary "Spike O'Sullivan (27-2, 19 KO's).

Other candidates include former 154-pound titleholder Demetrius Andrade, as well as undefeated 160-pound titlist Billy Joe Saunders, who holds the WBO belt.