Did Canelo Alvarez truly leave it all in the ring when he squared off against Terence Crawford on September 13? In front of a jaw-dropping audience of 70,482 at Allegiant Stadium, the Mexican superstar faced a setback, marking only the third loss of his career. The performance, however, left a cloud of disappointment hanging over his devoted fanbase. Presented as the naturally larger contender and the frontrunner in the super middleweight showdown, Alvarez was anticipated to flex his size and power against Bud Crawford, who was stepping up two weight classes for the very first time. In a surprising twist, it was the southpaw from Nebraska who took charge, dominating almost 90 percent of the bout and shattering the long-held myth of Alvarez’s invincibility.

For Terence Crawford, the win cemented his place in boxing history. Already the first fighter of the four-belt era to unify two divisions, he has now made it three, a feat no one else has accomplished. Having previously collected titles from 135 to 154 pounds, Crawford’s jump to 168 to dethrone Alvarez makes him a five-division world champion. The achievement elevates him beyond a generational star into the company of all-time greats like Harry Greb, Henry Armstrong, Roberto Durán, and Manny Pacquiao. Meanwhile, Canelo Alvarez underdelivered by his own lofty standards, and one UFC legend believes there may be a real explanation for why.

Has Canelo Alvarez lost the spirit that made him unstoppable?

On the latest episode of their Pound 4 Pound with Kamaru & Henry YouTube show, Kamaru Usman and Henry Cejudo broke down what went wrong for Canelo Alvarez against Terence Crawford. Usman felt that the Canelo fans were used to didn’t show up on fight night. “It’s just not the Canelo we are accustomed to because we’ve seen him throw five to seven punch combinations,” he said, noting that the 63-3 boxer’s shots didn’t carry the same finishing power. Usman also suggested that factors like training camp, injuries, or even wear and tear could have played a role, pointing out one moment where “he threw a right hand, he was so off balance, it was almost like that right knee was kind of giving.”

Henry Cejudo quickly teased him, asking if he was only noticing that because of his own history with knee injuries. Usman laughed it off, saying, “Knee or no knee, it doesn’t matter. I make it happen.” But he still emphasized that Canelo’s stance seemed too static. According to Usman, Alvarez “just stands there” after setting up, which left him vulnerable when he threw right hands.

Cejudo agreed, adding that the Guadalajara native stayed in one spot for too long instead of creating openings. “There is a moment he’s there, and he stays there a little too long,” Cejudo explained. He thought Canelo Alvarez should have moved more, feinted, or created angles instead of letting Crawford control the exchanges. “He just got jabbed. He just got pushed back,” Cejudo said, supporting Usman’s observations.

Usman then shifted to something he had never seen from Alvarez before: signs of doubt during the fight. He pointed out how Canelo looked away, seemed distracted, and even shook hands between rounds. “It was almost like he was not locked in,” Usman said. To him, Alvarez’s body language suggested he knew he was losing rounds, which was unusual for a fighter of his stature.

Finally, Kamaru Usman compared Canelo’s demeanor to the Nebraskan Southpaw’s. While the 35-year-old appeared more respectful and even congratulated Crawford before and after the weigh-ins, Crawford showed no interest in being friendly until the job was done. “Terence Crawford was in the sh-t. He wasn’t about that,” Usman said. In his view, Alvarez’s fighting spirit didn’t shine through the way it once did. Whether it was age, wear, or simply Crawford’s brilliance, Usman felt that “the mean-spirited Canelo wasn’t there.” Yes Canelo Alvarez was kind of off, but what’s planned for his future?

Turki Alalshikh maps out Canelo Alvarez’s future fights

Through his social media accounts, Riyadh Season chairman Turki Alalshikh shared a photo from his meeting with Canelo Alvarez. In the picture, HE Alalshikh held the very gloves the Mexican superstar used in his fight against Bud Crawford. Revealing that Alvarez was planning a family vacation, HE Alalshikh wrote, “He has 2 fights left with @RiyadhSeason in ’26. We offered him to work with us until he quits and retires.”

He later expressed gratitude for the gesture, posting, “I want to give a special thank you to @Canelo for the special gift. He gave me the gloves of the fight, and I appreciate it very much.” In another post, the Riyadh Season head also shared a picture of Terence Crawford holding the Ring belt.

For the record, the two fights HE Alalshikh mentioned are part of the four-fight deal Canelo Alvarez signed with Riyadh Season. Under the $200 million contract, Canelo Alvarez is scheduled for two bouts in 2025 and the remaining two the following year. With wins over William Scull and the bout against Terence Crawford, he has already completed half of the agreement.

Attention now shifts to who Alvarez will face on his traditional Cinco de Mayo date next year. Speculation is running high. Many fans hope for a rematch with Crawford, but as the Nebraskan star revealed, their contract did not include a rematch clause. So who do you want to see Canelo Alvarez fight next? And do you also agree with what Kamaru Usman said?