RING and WBC light heavyweight champion Adonis Stevenson got "a better offer" from Showtime than HBO, which opted not to renegotiate its deal with Stevenson, according to a statement released to RingTV.com by promoter Yvon Michel.

As a result of Tuesday's development, Stevenson's scheduled May 24 defense against Andrzej Fonfara will be on Showtime at Bell Centre in Montreal, in accordance with an earlier report by RingTV.com. The story was first reported by Yahoo!Sports.

"I have presented what I believed was an excellent multi-fight deal offer to Adonis from HBO with a deadline set for March 11th for approval. After discussions, we have decided to pass, and we got a better offer from Showtime. HBO had the right to match any offers, so we sent them a copy," said Michel in a prepared statement.

"They had until today to match it, but have decided otherwise. This was a pure business decision for all parties involved, nothing personal or immoral. We wish to praise Mr. Stephen Espinoza of Showtime for his ambition to do business Adonis and GYM, which was reflected into the offer he has presented. We are thankful to him. We are looking forward for a fruitful association."

Showtime already is the home of Golden Boy Promotions' 175-pound counterparts Bernard Hopkins and Beibut Shumenov, who will put their respective IBF and WBA belts on the line against each other on April 19 on the network.

In February, Stevenson (23-1, 20 knockouts) signed with powerful advisor Al Haymon, most of whom's fighters are promoted by Golden Boy and fight on the Showtime network.

Given that HBO has severed ties with Golden Boy, and Hopkins has expressed the desire to face Stevenson, that could well be in the cards should he beat Shumenov.

Hopkins declined to focus on Stevenson upon hearing the news from RingTV.com. Stevenson could not be reached for an immediate comment.

In February, Stevenson (23-1, 20 knockouts) signed with Al Haymon. Most of the powerful advisor's fighters are promoted by Golden Boy and fight on the Showtime network.

Sergey Kovalev will defend his WBO 175-pound title against Cedric Agnew on HBO on Saturday. Kovalev's promoter, Kathy Duva, of Main Events, said that her boxer has a mulit-fight deal with HBO.
 

Below is the full statement from Michel:

"First we want to thank HBO for the ride with Adonis in 2013. They gave him his first chance, and they have raised him to the star status. We only have great comments for all of HBO's executives with whom we have worked very well and have established a great relationship.

"I have presented what I believed was an excellent multi-fight deal offer to Adonis from HBO with a deadline set for March 11th for approval.  After discussions, we have decided to pass, and we got a better offer from Showtime. HBO had the right to match any offers, so we sent them a copy. They had until today to match it, but have decided otherwise.

"This was a pure business decision for all parties involved, nothing personal or immoral.  We wish to praise Mr. Stephen Espinoza of Showtime for his ambition to do business Adonis and GYM, which was reflected into the offer he has presented. We are thankful to him. We are looking forward for a fruitful association.

"Adonis Stevenson was the Fighter of The Year for many websites and publications in 2013, and feels he is treated that way. His goals are to keep fighting and winning spectacular fights by knockout, to unify the light heavyweight titles, and to raise his recognition to the top five, pound-for-pound this year. The next step is May 24 at the Montreal Bell Centre against young No. 1 IBF and WBO and No. 3 WBC contender Andrzej Fonfara."