Teofimo Lopez dramatically pulls out of blockbuster Devin Haney showdown

Despite Devin Haney and Teofimo Lopez reportedly agreeing to fight each other later this summer, The Ring Magazine's Mike Coppinger has now revealed the blockbuster catch-weight fight is off.

The two fighters appeared to be on a collision course on Tuesday when it was revealed that an agreement had been reached for Saudi Arabia to stage the colossal tussle on August 16.

However, contrary to those reports, esteemed boxing reporter Coppinger has confirmed that previously positive discussions have subsequently broken down.

Devin Haney and Teofimo Lopez were discussing an Aug. 16 fight in Riyadh, Saudi Arabia, but negotiations have now collapsed, The Ring has learned.

- Mike Coppinger (The Ring Magazine)

"The 145-pound catch-weight matchup would have featured two of the sport’s youngest stars in a fight that has been brewing for years."

Haney and Lopez both eased to victories on the lacklustre Times Square bill last month, with Haney breezing past Jose Ramirez and Lopez seeing off Arnold Barboza Jr.

The expectation was that Haney and Ryan Garcia, who was shockingly beaten by Rolando Romero on the same New York bill, would face each other for a second time this year, but any notion of that fight was put to bed as a consequence of Garcia's defeat.

That seemingly opened the door for a long-mooted clash between Haney and Lopez, with an official announcement of the fight expected to have been made this week.

But, in a late twist, Lopez has seemingly failed to put pen to paper on the contract put forward to him by His Excellency, Turki Alalshikh.

"I was looking forward to making this fight with Teo (Lopez), it’s been in the works for a while now,” two-weight world champion Haney told The Ring Magazine overnight.

I thought this was the best time to make it happen and I did my part. We waited for days for Teo to sign his part of the contract and he came out and said this isn’t a fight he wants to make.

- Davin Haney (The Ring Magazine)

"I’m still willing to make the biggest and best fights. I’m looking forward to working with His Excellency, Riyadh Season and The Ring on the best possible opponent.

"No promoter should work with Teo because he wasted everybody’s time."

The breakdown in talks comes just than a week after Lopez had hinted that he had been 'fired' by Alalshikh after firing an insult 'His Excellency's' way via social media.

Only time will tell whether the brash New York native has now burnt his bridges with the Middle Easters boxing bank-roller once and for all.