Miguel Cotto has been stripped of the WBC World Middleweight title overnight after allegedly failing to agree a sanctioning fee with the WBC.

His eagerly anticipated superfight with Canelo Alvarez, LIVE this Saturday night on BoxNation at midnight, still goes ahead, and the now vacant WBC title will be on the line for the Mexican star Canelo only.

Miguel Cotto WBC title

35-year-old Cotto, who is still recognised as the lineal middleweight champion, and his promotional outfit, Jay Z-owned Roc Nation, couldn't agree terms with the WBC, prompting the Council to release a statement overnight, part of which read:

"The WBC hereby announces that effective immediately has withdrawn recognition of Miguel Cotto as WBC world middleweight champion.

"If Saul 'Canelo' Alvarez wins the fight against Cotto, he will be recognized as the WBC middleweight world champion."

There's no question Cotto's Mandalay Bay showdown with Canelo remains one of the biggest fights of the year, and the winner is still likely to clash with middleweight king Gennady Golovkin in a huge fight next year.