A year later, minus Floyd Mayweather Jr., boxing on smaller stage

Believe it or not, there was a time not long ago when boxing was buzzing in the mainstream media. A long-awaited showdown was billed as a megafight, it was bet like a Super Bowl at Las Vegas sports books, and Floyd Mayweather Jr. was the favorite and the villain.

A year later, Saul “Canelo” Alvarez is the favorite to become the face of a sport that is staggered and attempting to bounce off the ropes again. There is the familiar talk of Mayweather making a comeback from another retirement, and he would be welcomed back.

He would be welcomed because minus Mayweather, there are no megafights on the horizon.

Canelo is facing Amir Khan on Saturday at T-Mobile Arena, and while it could be a competitive fight, it’s not capturing the imagination of the mainstream media or the public. The buzz is barely audible.

“I think boxing is a great sport, and when you get a really good matchup, the vibe you get from it is off the charts,” William Hill sports book director Nick Bogdanovich said. “This is one of the bigger fights of the year, but nowadays that’s not saying a whole lot. We’ve had a lot of business on this fight, shockingly so to me.”

But there is a big difference between business and record-breaking business. A year ago, Mayweather and Manny Pacquiao hooked up in an event that generated an estimated wagering handle of $80 million in Nevada, with around $25 million bet at MGM Resorts’ books. Canelo-Khan is a minor bowl game that might do 15 percent of that action.

The history books will show Mayweather-Pacquiao was a financial windfall and an entertainment bust. Pacquiao’s punchless performance was mostly because of an undisclosed torn rotator cuff in his right shoulder. Mayweather picked him apart to win an easy decision.

Boxing needs a boost, and maybe Canelo can provide it.

“We talk about the megafights and how they fit into the business scheme of boxing. In boxing, the pay-per-view market is depressed right now,” Showtime analyst Al Bernstein said. “This fight will be an intriguing one. It’s going to tell us how big a star Canelo is.”

The HBO pay-per-view numbers for Canelo-Khan are projected to be far less than half of the record-shattering 4.4 million buys HBO and Showtime drew for Mayweather-Pacquiao. The tale of the tape for the two fights is not a fair comparison.

It took several years for Mayweather to become a huge drawing card. He’s a brilliant tactician who won boring fights, and more than his spotless record, his controversial personal life made him a polarizing star. Pacquiao’s also a major attraction.

Canelo — referred to more often by his nickname than his last name — is 25 and still on the rise. He’s 46-1-1, with his loss coming to Mayweather in September 2013, when Canelo was inexperienced and outclassed. Khan (31-3) is a British boxer who has a smaller following.

On Cinco de Mayo weekend, Mexican fans are expected to flood the books to support Canelo as a minus-550 favorite.

“Ninety times out of 100, when you have a decent fighter getting a good plus-price like this, we always need the favorite. But that might not be the case this time,” Bogdanovich said. “I don’t think there will be enough public outpouring for Khan.”

Golden Nugget sports book director Tony Miller said he took a $20,000 wager on Canelo at minus-500 before he raised the price to 6-1. The ticket count favors Canelo by a 2-1 ratio.

“Absolutely, I think Khan’s a live ’dog,” Miller said. “But it’s speed against power in this fight. If Canelo catches him in the corner, it may be over.”

The price on the fight going 11 full rounds is plus-140 at MGM’s books. Canelo is posted at 16-5 odds to win by decision and minus-180 to win by knockout. Khan is offered at 9-2 odds to win by decision and 12-1 by knockout.

“We all know Canelo is the favorite, but it will be interesting to see whether Khan can come up with a way to make it interesting,” Bernstein said. “I think Khan’s going to have to fight close to a perfect fight to win. You have to give Khan credit for fighting a bigger man, a younger man. Canelo knows he will be by far the most powerful puncher. But when Canelo thinks, he’s less effective of a fighter.”

Bernstein said Canelo has had issues with “master boxers” such as Erislandy Lara, Austin Trout and, of course, Mayweather. Any discussion about boxing and what’s next still circles back to Mayweather.

“The door is always open with Floyd,” Bernstein said. “I think it’s 50/50. You feel like it’s even money one way or another. If you can still do something well, there is always the temptation to do it. If you ask me which fight I would like to see, I would like to see him at 154 (pounds) against ‘Triple-G’ (Gennady Golovkin). Of course, there’s always Pacquiao. It’s kind of hard to zero in on one option.”

Boxing eventually will move on from Mayweather and Pacquiao. Canelo and Golovkin could make a megafight, though some skeptics say it never will happen. And Bernstein called 26-year-old heavyweight Anthony Joshua “potentially the next big thing in boxing.”

Canelo’s star power is the next big test for a sport that was on a much bigger stage a year ago.

Las Vegas Review-Journal sports betting columnist Matt Youmans can be reached at myoumans@reviewjournal.com or 702-387-2907. He co-hosts “The Las Vegas Sportsline” weekdays at 2 p.m. on ESPN Radio (1100 AM). Follow on Twitter: @mattyoumans247