It was the question that most people were asking even before the fight Saturday night, when Saul ‘Canelo’ Alvarez introduced Caleb Plant to a stark and indisputable defeat.
There are options at 168lbs, down a division and further up the scales too. Indeed, Canelo has even suggested cruiserweight is not beyond his powers.
Betfair have issued their runners and riders for his next opponent, the chances of him retiring, and the possibility of a fight in England. We look at how these odds stack up.
Gennady Golovkin 5/2
The 2017 and 2018 matches between the pair have done little to dissuade fans from looking for a third fight to settle the arguments between the fighters’ respective fans. Canelo won by decision in the second match and perhaps there may have been cause for a third soon after, but the Mexican is not a man to tread water, as we can see from his consequent move up to 175lbs for the WBO light heavyweight belt, and his move down to capture all five of the major super middleweight belts.
What would be the reason to go back? Perhaps the lack of appeal in the rest of the options, and that there is little time left for GGG and Alvarez to meet again. At 39, Golovkin has limited scope to earn further major paydays, and offers the chance for Alvarez to claim the IBF middleweight belt. After beating Plant on Saturday, Alvarez discussed his desire to make the most of his career and to establish a legacy - beating the second-ranked pound-for-pound fighter would only enhance his CV.
Joe Smith Jr 3/1
Like most boxers, Alvarez has gradually moved up the scales, and at 31 the difficulty of losing pounds could start to pose him problems. It is easier to add muscle, it seems, for him than it is to shed weight. In that case, a move up to light heavyweight for a series of fights might prove more appealing and more rewarding for Canelo than a return to 160lbs for Golovkin.
As the WBO light heavyweight champion, and a fighter with an audience who could support another money-spinning event in front of an American crowd, Smith Jr represents a decent, and eminently beatable, potential next opponent.
David Benavidez 7/2
Benavidez also offers the chance to fight again in America, and is ranked as one of the best super middleweights by most governing bodies. If Canelo decides to stake a claim on the division and take on further challenges to assert his credibility, then Benavidez’s unbeaten record could make him a tempting match-up. A one-time WBC champion, there is enough to talk up to publicise such a bout. However, all this feels like retreading old ground given the sparkling 11 months delivered in the division. "Why rush to achieve all this only to stagnate?" some might ask.
Caleb Plant 5/1
Plant acquitted himself well enough over the course of 11 rounds, and while the match was justifiably stopped late in the evening, on another night he might have lasted the five minutes more to force a decision. The Californian might think he now knows what to change to pose a new problem for the Mexican, even if the reality is that Canelo’s technical excellence means he would probably just find another way to force a victory.
Dmitry Bivol 6/1
Dmitry Bivol is one of two Russians on this list who could offer Alvarez more than just the thrill and the challenge of a single fight. At 30 years old, undefeated over 18 fights with 11 KOs, he is fresh enough to represent an opponent who is still improving, and who has the experience in the ring to offer stiff resistance.
Bivol holds the WBA belt at 175lbs. If Smith Jr is first, Bivol could be a stepping stone to another undisputed project, leaving him to complete the set with...
Artur Beterbiev 8/1
The IBF and WBC light heavyweight champion has 36 years of experience, 16 wins from 16 fights - all via KO - and is widely regarded as the very best at 175. If Canelo regards a sustained challenge at the weight to be a real test, then he might wish to have a couple of liveners with other challengers and champions before he steps up to meet the Russian.
While Canelo can claim to be one of the best fighters - if not the best - around at the moment, he has assiduously built up a career with as many winnable fights as he has serious challenges. He talks of a legacy, and while much of that will be earned by the respect of fight fans, much of it will also be earned in the record books with belts and baubles. Beterbiev offers both a match-up that would test him and earn him respect, and deliver two belts - that is probably not a challenge he will rush into without serious preparation.
Jermall Charlo 10/1
Charlo has maneuvered his way to a middleweight belt and you cannot deny the effectiveness of that path. At 31, though, the toughest man he fought was Sergiy Derevyanchenko in September 2020 and he followed that up with a bout against the unremarkable Juan Macias Montiel. An obviously talented fighter, and now a rich one, this could be a chance for the American to stake a claim for real, long-lasting legacy.
Billy Joe Saunders 12/1
Billy Joe Saunders was soundly beaten, even if he did his reputation well with his performance back in May. There is no need for a rematch, and as discussed there are better options for Canelo if he wants to stay at 168lbs.
Canelo Alvarez to retire in 2022 – 5/1
There are few fighters who manage to go out on a high, and there are plenty who leave broken financially, physically, or both. Alvarez is clearly a proud man, and understandably so. He is chasing greatness, though, and while it would leave us all wanting more to see just how far he can push himself, he is strong-headed enough to go out on his own terms. He remains an inscrutable presence even with his increasing willingness to engage the world’s media in English, so predicting this feels a fool’s errand.
Canelo Alvarez to fight in England in 2022 – 2/1
Canelo seems to have a friendly and productive relationship with Eddie Hearn, whose Matchroom operation could easily see him put on a decent show in Britain. If Alvarez does want to go down as one of the world’s best, it would not hurt him if he were to take his performances on tour across the world before he steps out of the limelight.