Sources: Canelo Alvarez, Jaime Munguia finalizing May 4 bout - ESPN

Canelo Alvarez and Jaime Munguia are finalizing a deal for a May 4 fight in Las Vegas for Alvarez's undisputed super middleweight championship, sources told ESPN.

It's a one-fight deal for Alvarez and PBC, sources said, after the sides parted ways last week with two bouts remaining on a three-fight agreement signed last June.

It's a coup for PBC to welcome Alvarez, boxing's top star, back into the fold for its second pay-per-view offering as part of its new partnership with Amazon's Prime Video. DAZN, the streaming service that has an exclusive deal with Golden Boy Promotions, will also carry the event, sources said.

Munguia's past 12 fights were streamed by DAZN. The 27-year-old Mexican fighter has been co-promoted by Zanfer and Golden Boy.

Munguia (43-0, 34 KOs) is coming off a career-best win, a ninth-round TKO of John Ryder in January. He has steadily improved under the guidance of Hall of Fame trainer Freddie Roach. Now, Munguia will represent Alvarez's first Mexican opponent since Julio Cesar Chavez Jr. in 2017. Munguia is rated No. 4 by ESPN at 168 pounds.

Alvarez, ESPN's No. 4 pound-for-pound boxer, was lined up for a championship defense against Jermall Charlo in May. However, Alvarez and PBC couldn't agree to terms for the matchup, which contractually allowed him to explore other options.

Alvarez (60-2-2, 39 KOs) discussed a return to DAZN for bouts with Munguia and Edgar Berlanga this year, but when those talks stalled the champion returned to the table with PBC, sources said.

Alvarez, 33, plans to fight on Mexican Independence Day weekend in September as well.

Canelo defeated Jermall's twin brother, Jermell Charlo, via unanimous decision in September to retain his undisputed super middleweight championship as