The Canelo Alvarez vs. GGG rematch has gotten the axe -- with Canelo formally announcing he's withdrawing from the fight at an L.A. news conference in the wake of a positive PED test.
Canelo and Gennady Golovkin were scheduled to have their rematch on May 5 after a controversial first fight, but Alvarez got popped for a banned substance on March 5.
#canelo : I am sure I am a clean fighter #boxeo #boxing #saulalvarez #ggg #golovkin pic.twitter.com/sgBppSpter
At the conference, Canelo said he still blames the failed drug test on tainted Mexican beef -- claiming he ate steak that was pumped full of Clenbuterol. He also vowed to prove that he is not a drug cheat.
Alvarez was issued a temporary suspension by the Nevada Athletic Commission a couple weeks ago ... and his official hearing with the NAC is scheduled for April 10.
Canelo said he's hoping for a reduced suspension, so they can re-book the fight later this year.