Promoter Bob Arum had ageed a deal with Mosley's manager, Barry Frank, but "Sugar Shane" turned down a $4.25m (�2.66m) share of the purse.

De la Hoya has been guaranteed $12m (�7.5m) for the bout, which had been scheduled for 13 September.

Shane Mosley's perception of himself and his popularity are not based in reality Promoter Bob Arum

De la Hoya will now face Yory Boy Campas at the Mandalay Bay Events Center in Las Vegas on 3 May.

"The reason we picked Yory Boy Campas is it's going to be a good preparation for me. It's no secret," said De La Hoya.

"He's not going to knock me out or beat me, I'm not going to let that happen.

"But you can't take anyone lightly."

Whether Campas will be "preparation" for a fight with Mosley in the future is not clear.

Arum said Mosley had failed to accept the deal before last Monday's deadline and so the offer had been withdrawn.

"He passed on it so it's over," Arum said.

"His perception of himself and his popularity are not based in reality," said Arum.

"We'll find someone else for Oscar to fight."

Arum said De la Hoya could now have a rematch with Fernando Vargas on the date, or could fight another contender.

Mosley beat De la Hoya in June 2000, but lost two fights to Vernon Forrest and now has not won in three fights.

Mosley's last foray into the ring was in February when his fight with Raul Marquez was declared a no contest.

It was stopped in the third round because of cuts sustained by Marquez.