They are in negotiations right now per Eric Gomez & a member of Team Chavez Jr:
Canelo Alvarez is in discussions to meet Julio Cesar Chavez Jr. in May on HBO PPV at an indeterminate weight, Golden Boy president Eric Gomez told RingTV.com on Thursday.
“We are in talks and there’s a possibility it can happen,” Gomez, who is busy promoting Bernard Hopkins’ farewell fight on Saturday against Joe Smith Jr., said in a text message. “We will know soon. The weight is being negotiated and discussed.”
Canelo and Chavez Jr. in talks for May fight on HBO PPV - The Ring
"There are good faith discussions taking place. The whole Chavez team - which includes Julio, Chavez Sr, Rodolfo Chavez, Al Haymon, and myself - we really want this fight and we hope to make it happen," Valencia told BoxingScene.com. - See more at:
Canelo vs. Chavez Jr. in Talks For May 6 - at 165-Pounds - Boxing News
"Julio had no trouble making the weight last week. He felt very strong in the ring and he had a great performance. Going to 165 will be a little tougher, but fighting in May would give him more than enough time to make that weight. I don't believe the weight will affect him," Valencia said. - See more at:
Canelo vs. Chavez Jr. in Talks For May 6 - at 165-Pounds - Boxing News