Canelo Alvarez vs. GGG 2 has officially gotten the axe -- with Canelo formally announcing he's withdrawing from the fight at an L.A. news conference in the wake of a positive PED test.
Canelo and Gennady Golovkin were scheduled to have a rematch on May 5 after a controversial first fight, but Alvarez got popped for a banned substance on March 5.
Canelo blames the failed drug test on tainted beef -- claiming he ate steak that was pumped full of Clenbuterol. He's vowed to prove that he's not a drug cheat.