Golovkin, who was willing to move up in weight, signed for the 12-round super middleweight fight weeks ago, but Chavez and Top Rank have been going back and forth, unable to come to terms. Arum said Chavez's contract with Top Rank expires in October 2015 and one of the central issues in the negotiation for the Golovkin fight was Top Rank's desire to have him sign an extension, but Chavez did not want to.
Arum said he relented on insisting on the extension and instead presented Chavez with two proposals. Under one proposal, Chavez would earn a certain amount of money to fight Golovkin without an extension. He would earn far more for the fight if he accepted the proposal with the extension.