The Mexican superstar Canelo will be busy if the report turns out to be true. He's already set to face Terence Crawford in September in Las Vegas. Crawford will jump up two weight divisions for their super-middleweight clash.
Before the Paul news broke, fans thought Canelo would defend his IBF super-middleweight title against William Scull next.
Jake Paul last fought in November. He beat Mike Tyson by unanimous decision. Many boxing fans weren't happy about that fight because Tyson is 58 and hasn't boxed professionally in a long time.
Paul has big plans for a fight with Canelo. He said in a YouTube video:
"This moment will prove that I'm the face of boxing, the largest attraction. Me vs. Canelo at 200 pounds for the cruiserweight championship of the world is the biggest fight, arguably even bigger than me vs. Tyson."
The YouTuber-turned-boxer thinks he'll cause the biggest upset in boxing history. He wants to show he can beat Canelo and become the face of the sport.
Canelo hasn't said much about Paul's boxing skills in the past. A fight between them would be huge but controversial.
Neither team has said anything about the report yet. If it's true, it'll be a big deal for boxing fans around the world.