Despite Golden Boy's Richard Schaefer saying that he doesn't think Canelo Alvarez vs Austin Trout will happen, Alvarez's team is talking about Trout as if he's still a legitimate possibility, and says they're ready to fight by March if they can't fight on May 4, as preferred.
From BoxingScene.com and Canelo's manager Eddy Reynoso:
"Mayweather says that he will fight with Robert Guerrero, Austin Trout is having legal problems in the United States. We are ready, with the mind set of going in May. If not, Canelo can fight in March, there is time. ... Austin Trout is a world champion with prestige, and he's coming off a win over Miguel Cotto - and we think that these are the kind of fighters [Canelo should face] because we are at that level. We can not turn back, this year we are going against the highest level of fighters."
Alvarez (41-0-1, 30 KO) previously demanded that Golden Boy land him a fight with Floyd Mayweather, Sergio Martinez, or Miguel Cotto, but after Cotto lost to Austin Trout, Canelo's team opened itself up to the possibility of facing the unbeaten American, who holds the WBA "regular" title at 154 pounds.
Trout was arrested and released on New Year's Eve in El Paso, and it sounds like nothing is coming of that, so the idea that Trout has "legal problems" probably isn't valid as far as preventing this fight from happening.
Reynoso says they'll meet with Golden Boy officials soon to decide on the next fight, hoping to have a bout finalized int he coming two weeks.