The rematch contest – originally announced for May 5th in Las Vegas – has been under a cloud since Canelo tested positive for Clenbuterol, not once but twice in February.
Nevada State officials are set to formally make a ruling on the fight going ahead at a hearing on April 10 and Loeffler said it would be unwise to predict what the ruling would be at this point.
“The gut feeling is it’s really hard to speculate. It’s really in the hands of the commission,” Loeffler told SiriusXM Boxing.
“They have their rules and regulations and right now they’re trying to figure out what the background was of the test and how they’re gonna proceed with it.
“We’ve seen other fighters that have tested positive be allowed to fight. Erik Morales in New York. Francisco Vargas in California. So there’s precedent for that in boxing.
“At the same time, each situation is different, each commission is different. So that’s where a little bit of the uncertainty comes from right now.
“It’s just hard to speculate one way or the other. Wouldn’t be responsible for me to do that until we get the ruling; there’s really no room for speculation at this point.”
High-profile fighters have already thrown their hats into the ring to replace Canelo should the Mexican face a longer suspension, although nothing will be decided until mid-April at the earliest.
Billy Joe Saunders, Demetrius Andrade and Gary O’Sullivan have all been named as potential substitutes for Canelo.
At the Fights airs Mondays and Fridays from 6-8p ET on the first and only nationally-broadcast combat radio channel, SiriusXM RUSH 93.
The show is hosted by former New York State athletic commissioner Randy Gordon and former #1-ranked Heavyweight contender Gerry Cooney.
Listen to Tom Loeffler on if Canelo-GGG 2 takes place in May here: https://twitter.com/SiriusXMBoxing/status/978427454585999360