WBC middleweight champion Saul 'Canelo' Alvarez will put his title on the line against British welterweight czar Amir Khan this coming May 7. The HBO pay-per-view fight will be held at the new 20,000-seater T-Mobile Arena in Las Vegas.

The Independent noted that the upcoming fight will be Canelo's first defense of his WBC middleweight title, which he won against Puerto Rican slugger Miguel Cotto in November 2015. Canelo claimed he is the kind of boxer who doesn't back down from any challenger.

"As the middleweight champion of the world, I will take on the best fighters in the sport and on Cinco De Mayo weekend, I look forward to making the first defense of my titles," said the 25-year old Mexican. "Amir was a decorated amateur, a two-time world champion and is in the prime of his career. Fans are in for a great fight."

Both parties have agreed to meet at a 155-pound catch weight. Forbes believes the compromise is reasonable since Khan, a natural welterweight, has yet to prove his mettle beyond the 147-pound limit. Meanwhile, Canelo has been on a four-match winning streak, despite fighting at 155 pounds -- five pounds lower than his ideal weight.

Sky Sports reported that the Canelo showdown will be Khan's first fight in a year. The 29-year old Bolton native hasn't stepped into the ring since his unanimous decision victory over Chris Algieri in May 2015.

Khan spent most of last year vouching for a fight against Manny Pacquiao or Floyd Mayweather Jr. When he realized the mega-fights he wanted wouldn't pan out, he instead looked for other options. Names like Danny Garcia, Robert Guerrero and Kell Brook were thrown into the mix, but none had the box-office appeal of a Cinco De Mayo weekend fight against Canelo Alvarez.

"I know Canelo fights the best and wouldn't pass up the opportunity to face me like others have," said Khan. "My goal is to always fight the biggest names and the best fighters that is why I'm excited for this fight.

Golden Boy Promotions was responsible for making the fight happen. The company's CEO Oscar De La Hoya is confident that Canelo vs Khan will be the biggest fight of 2016. He said GBP is committed to putting together the best and most-requested fights in boxing.

According to Box Rec, Canelo has a record of 46 wins, one loss and one draw. Of his wins, 32 have come by way of knockout. The Mexican's only defeat was against Floyd Mayweather Jr in 2013. On the other hand, Khan owns a record of 31 wins, three losses and not a single draw, as per FightNights.