Jake Paul has been rising in the world of boxing, and his Most Valuable Promotions continues to sign high-level fighters. Despite Paul’s rise in fame, he experienced the biggest fight of his career being pulled out from under him.

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Paul booked the biggest live-streamed sporting event in November when he took on boxing legend Mike Tyson, resulting in multiple streaming records being broken on Netflix. Naturally, the fight and exposure lit the boxing world on fire.

Paul was attached to many names following his win against Tyson, including that of Mexican phenom Canela Alvarez. Apparently, Alvarez and Paul had a fight lined up for May 5, but the fight was pulled mere months before the pair would have faced off.

The fight was pulled, and Alvarez signed a four-fight deal with Riyadh Season instead. Now, Paul has revealed more details about the fight cancelation.

Paul joined “The Ariel Helwani Show” to discuss what occurred and how close the fight truly was.

“We were on the 1-yard line and we got a pick 6… But I understand it, you know. Basically, they threatened to pull Canelo’s $300 million contract if he was to fight me. That’s how bad they want me out of boxing,” Paul said.

Apparently, Paul and Alvarez were just about to sign and fight one another, until the current Mexican champion went with a reported $300 million contract instead. He also stated that Alvarez was threatened with his contract being pulled, leading to his withdrawal.

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Paul also stated something similar to Newsweek Sports in March, when he stated:

“He went with the money play versus the legacy play of doing one of the biggest fights ever. Now he’s fighting some random guy in Saudi. He snaked his fans and chose the money because they were threatening to pull his contract.”

Paul confirmed twice that Alvarez was threatened with losing his contract, but he had not revealed that it was for $300 million, nor how close the fight was to being done. It will be interesting to see what will happen next.

Paul is set to face off against former Mexican champion Julio Cesar Chavez Jr. in June. Should he win, he will be one step closer to facing off for a championship belt.

During the press conference for the Fight, Paul indicated he would request that he faces a champion relatively soon. There could be an avenue where Paul faces off and wins against champions, leading to him facing off against Alvarez.

For more on Jake Paul, head to Newsweek Sports.