Pound-for-Pound Rankings: Who’s Up Next for Canelo Alvarez?

The boxing world eagerly awaits the Mexican superstar’s first fight of 2024, leading to plenty of speculation about his next challenger.

It’s 2024, which means it’s time to ask the question: Who will Canelo Álvarez fight next?

Álvarez, 33, has options. Coming off a pair of successful defenses of his super middleweight titles—a wide decision win over John Ryder and a wider points victory over Jermell Charlo—Álvarez is the unquestioned king of the 168-pound division—and the U.S. market’s biggest box office draw. And while he’s not the destroyer he was between 2018 and 2021, he’s still near the top of his game.

So let’s unpack the latest intel on possible opponents.

Who it won’t be: David Benavidez

From a purely merit perspective Benavidez—a former two-time, 168-pound champion—is the obvious choice. He’s No. 2 in every credible super middleweight rankings and coming off a banner ’23, highlighted by wins over Caleb Plant and Demetrius Andrade. Álvarez, though, has expressed little interest in facing Benavidez in May. I don’t believe Álvarez is ducking Benavidez—mostly because Álvarez has never ducked anyone—but the chatter from people close to him is that he prefers to fight Benavidez in September, in what would be his final fight on a three-fight deal with PBC.

Who it could be: Jermall Charlo

Charlo, 33, ended a two-plus year layoff by outpointing José Benavidez Jr. last November. Charlo has not earned a shot at Canelo; he’s fought three times in the last four years and hardly looked impressive against Benavidez, a blown-up welterweight. But he’s undefeated, a titleholder and remains a recognizable name in boxing. Can PBC squeeze some marketing out of Charlo seeking revenge for his estranged brother? Can some spiciness in the pre-fight buildup boost pay per view sales? It’s what makes Charlo a frontrunner to land the fight.

Who it might be: Jaime Munguía

Munguia is interesting. Like Charlo, Munguía, 27, has done little to earn a fight with Canelo. But he’s a former titleholder with a sterling record (42–0) who is regularly in fan-friendly fights. Munguía’s win over Sergiy Derevyanchenko last June was Sports Illustrated‘s 2023 Fight of the Year. On Saturday, Munguía will face Ryder in a 168-pound clash. If Munguía looks impressive, expect buzz to build for a Canelo-Munguía showdown.

Who it should be: Terence Crawford

I know, it’s a lot to ask Crawford, who has never fought heavier than 147 pounds, to fight Canelo at 168. But Crawford has eyed a move up to 154 for his next fight and has insisted his body will handle the extra weight well. And is there a more marketable fight than Canelo-Crawford? Crawford, fresh off a dominant win over Errol Spence Jr., against Canelo in a true pound-for-pound clash? The fight sells itself. And it’s there—if Álvarez wants it.

On to Sports Illustrated’s latest pound-for-pound rankings.

1. Terence Crawford

Record: 40–0

Last Month: 1

Last Fight: TKO win Errol Spence Jr.

Next Fight: TBD

Crawford’s anticipated showdown with Spence Jr. last July proved anticlimactic, with the three-division champion battering Spence over eight-plus rounds, dropping the unified titleholder three times before the referee waved it off. Crawford has knocked out every opponent he has faced since moving up to 147 pounds—eight in total—and at 36 established himself as the unquestioned welterweight king. What’s next? Spence’s latest eye procedure puts his immediate future in question. Jaron “Boots” Ennis has called for a Crawford fight. Teofimo Lopez, a titleholder at 140 pounds, has, too. Crawford, though, has made it clear he prefers a showdown with Álvarez. Will Álvarez, who has nothing on the books for May, want the fight?

2. Naoya Inoue

Record: 26–0

Last Month: 2

Last Fight: TKO win vs. Marlon Tapales

Next Fight: TBD

If there could be a pound-for-pound 1A, it would be Inoue, who for the second time in as many years can call himself an undisputed champion. Last month’s win over Marlon Tapales completed a two-fight, four-belt blitzing of the 122-pound division that burnished Inoue’s Hall of Fame credentials. Inoue plans to defend his titles at least once at 122—a matchup with mandatory challenger Luis Nery could be next—before considering a move up 126 pounds.

3. Oleksandr Usyk

Record: 21–0

Last Month: 3

Last Fight: TKO win vs. Daniel Dubois

Next Fight: 2/17 vs. Tyson Fury

Only Álvarez can claim a better resume than Usyk, whose accomplishments includes wins over Marco Huck, Mairis Briedis and Tony Bellew at cruiserweight and a pair of wins over Anthony Joshua at heavyweight. Last August, Usyk, 37, stopped Daniel Dubois in the ninth round to retain his three versions of the heavyweight title. In February, Usyk will get the chance to add the final piece when he takes on Tyson Fury, the lineal heavyweight champion.

Álvarez has yet to schedule a fight in 2024 as he weighs his options :: Joe Camporeale/USA TODAY Sports

4. Saul “Canelo” Álvarez

Record: 60–2–2

Last Month: 4

Last Fight: UD win Jermell Charlo

Next Fight: TBD

Against Jermell Charlo, Álvarez silenced the skeptics who suggested the Mexican star has lost a step, dominating Charlo en route to a lopsided decision. Álvarez no longer overwhelms opponents with combination punching and his defense has evolved to be more about parrying than slipping shots, but he remains a force in the super middleweight division. His next opponent, however, remains a mystery.

5. Devin Haney

Record: 31–0

Last Month: 5

Last Fight: UD win vs Regis Prograis

Next Fight: TBD

Against Prograis, Haney flashed a little bit of everything. Skill (Haney landed 47% of his punches, per CompuBox), power (Haney dropped Prograis in the third round and connected on 46.5% of his power shots) and defense (Prograis’s 36 punches landed set a CompuBox record for fewest punches landed in a 12-round fight), Haney continues to flirt with a move to 147 pounds, but the money fights (Ryan Garcia, Gervonta Davis, Teofimo Lopez) are at 140, where Haney looks stronger than ever.

6. Dmitry Bivol

Record: 22–0

Last Month: 6

Last Fight: UD win Lyndon Arthur

Next Fight: TBD

Bivol, SI’s 2022 Fighter of the Year, ended a 13-month layoff with a lopsided decision win over Lyndon Arthur in Saudi Arabia last month. That, coupled with Artur Beterbiev’s win over Callum Smith, sets up the big one: Bivol vs. Beterbiev, a mouthwatering light heavyweight unification fight that could take place in Saudi Arabia as early as June.

7. Shakur Stevenson

Record: 21–0

Last Month: 7

Last Fight: UD win vs. Edwin De Los Santos

Next Fight: TBD

Stevenson, 26, earned a third division title with a win over De Los Santos in November. The fight itself was a stinker—Stevenson reportedly entered the ring with a hand injury—but Stevenson’s elite defense carried him through. Stevenson wants unification fights and the winner of a planned showdown between Vasyl Lomachenko and George Kambosos Jr.—a fight that will be for a vacant title—is a natural matchup.

8. Artur Beterbiev

Record: 20–0

Last month: NR

Last fight: TKO win vs. Callum Smith

Next fight: TBD

Fine wine and Beterbiev, two things that seem to get better with age. Earlier this month, just days before his 39th birthday, Beterbiev picked up one of the most impressive wins of his career, a crushing seventh-round knockout win over Smith. Beterbiev’s defense was sharp, his footwork excellent and a short right hand that dropped Smith in the seventh round. There’s only one challenge left for Beterbiev and Saudi Arabian officials plan to give it to him: a light heavyweight unification fight against longtime rival Bivol

9. Gervonta Davis

Record: 29–0

Last Month: 8

Last Fight: KO win vs. Ryan Garcia

Next Fight: TBD

For years, Davis, 29, has been one of boxing’s biggest draws. A win over Garcia firmly established him as one of boxing’s top talents. Facing the heavy-handed Garcia, Davis was dominant. He dropped Garcia with a counter left in the second round and finished him with a body shot in the seventh. He showcased defense, skills and patience while reaffirming his status as one of the sports top finishers. Davis’s drawing power makes him a desired opponent—Haney, Lopez and Stevenson are among the top stars who have called Davis out—so he will have the ability to handpick his next opponent.

10. Teofimo Lopez

Record: 19–1

Last Month: 10

Last Fight: UD win over Josh Taylor

Next Fight: 2/8 vs. Jamaine Ortiz

Lopez, 26, revived his career with a dominant win over Taylor last June. In his best performance since his win over Lomachenko, Lopez, the former unified 135-pound champion, battered Taylor en route to a lopsided decision. The win earned Lopez a piece of the 140-pound title and he is hunting for more. First up, a title defense against Jamaine Ortiz, which Top Rank will stage during Super Bowl week in Las Vegas.