De La Hoya's announcement came shortly after negotiations between Alvarez's and Golovkin's respective camps looked to be breaking down.
Things took quite some time for everyone to agree but alas, is often the case in boxing, things were resolved at the last-minute.
De La Hoya told Rafael the fight was "100 percent over", but as that was happening, Golden Boy President Eric Gomez was putting together a "Hail Mary idea" to break the deadlock.
Rafael also provided more information regarding the discussions from Wednesday involving Golden Boy and Golovkin's promoters. Most boxing experts believe Golovkin won the first fight.
Under the deal, Alvarez would get 57.5 percent of the revenue generated by the fight.
So unified middleweight world champion Golovkin instead fought Vanes Martirosyan on May 5 in a one-sided fight that ended in less than two rounds.
The two boxing titans will meet almost one year after their first fight, which ended in a controversial draw - an underwhelming conclusion to the long-awaited blockbuster bout. Brooklyn's Jacobs and Ukraine's Derevyanchenko are trained by the same man, Andre Rozier, but Keith Connolly, who manages Derevyanchenko and Jacobs, told BoxingScene.com last week they would be willing to fight for the IBF title (https://www.boxingscene.com/manager-if-not-canelo-jacobs-fight-derevyanchenko-next-128907). He claimed the failed test was due to tainted meat in Mexico, but the Nevada State Athletic Commission wasn't buying it.