Gnennady Golovkin Canelo Alvare
The betting odds for a rematch between Gennady Golovkin and Canelo Alvarez are similar to the odds for their first fight. Pictured: Golovkin punches Alvarez during their middleweight championship bout at T-Mobile Arena on Sept. 16, 2017 in Las Vegas. Getty Images

A rematch between Canelo Alvarez and Gennady “GGG” Golovkin is likely on the horizon, though nothing is official. Golden Boy Promotions Chairman Oscar De La Hoya was quick to shoot down reports that a 2018 fight is a done deal.

It only makes sense for there to be a second fight after the two middleweights fought to a controversial draw in September. Only the boxing match between Floyd Mayweather and Conor McGregor sold more pay-per-views in 2017.

Lance Pugmire of the Los Angeles Times reported Thursday that Alvarez agreed to a May 5 rematch with Golovkin. Golovkin is expected to agree to the terms of the deal shortly.

“It’s going to be another great fight, so it’ll likely be a natural to do another rematch, but it’s not in the agreement,” Golden Boy President Eric Gomez told the Los Angeles Times on Thursday.

“We’ve exchanged contracts. We’ve gone through three revisions. I’m hoping for the last revision [Thursday night or Friday] and we’ll see,” Gomez said. “All the major points have been worked out. There’s some details that are important, but they’re not the major points.”

Not only was the first fight one of the most exciting in 2017, but a rematch seems warranted because of the controversy surrounding the judges’ scorecards. Most experts and fans thought that Golovkin should’ve been named the winner, but the fight ended in a draw.

It was the first time in 38 career fights that Golovkin wasn’t named the winner. The boxer from Kazakhstan entered the bout with a perfect record, failing to knock out just four of his opponents.

Because of his prior dominance, Golovkin was favored over Alvarez in the first fight. The same is the case for a possible rematch. The opening betting odds at 5Dimes made Golovkin a -170 favorite in the rematch, making Alvarez a +150 underdog.

Alvarez still has just one loss in his career, and that came at the hands of Mayweather in 2013. The Mexican fighter had won seven bouts in a row before facing Golovkin.

The first fight has convinced some that Golovkin would win a rematch, though there are reasons to believe Alvarez will be victorious a second time around. Golovkin will be 36 years old if the rematch happens in May, while Alvarez won’t celebrate his 28th birthday until September. Known as a knockout artist, Golovkin couldn’t put Alvarez away, and he went the distance with Daniel Jacobs in his previous fight.

Gomez told Pugmire that the rematch could be held at Las Vegas’ T-Mobile Arena or New York City’s Madison Square Garden.