Mauricio Sulaiman has revealed there is no mandatory challenger status in the WBC heavyweight rankings.
Tyson Fury - the WBC heavyweight champion - defeated Deontay Wilder in stunning last February but due to the global pandemic he has been unable to defend the famous green-and-gold belt.
The "Gypsy King" is in negotiations to take on Anthony Joshua to determine heavyweight's first undisputed champion since Lennox Lewis.
Despite having previously held mandatory status with the WBC, Dillian Whyte will have to wait for his shot at world glory.
Sulaiman - the WBC president - spoke to Hearn in Dallas during Canelo Alvarez's sensational win and confirmed they will patiently wait for the blockbuster bout to come into fruition.
"The WBC has been consistently clear - at this moment there is no mandatory in the WBC and we are just waiting to see what happens in the near future," he exclusively told Planet Sport.
"I saw Eddie [Hearn] and we had some good conversations. It is obvious they are just waiting to see if they can land a deal to get the fight to happen - we are just patiently waiting like everyone else."
Sulaiman was also in the presence of Fury, who attended a record-crowd at the AT&T Stadium in Texas to support good friend Billy Joe Saunders.
The fight, which ended with Saunders retiring on the stool after suffering multiple face fractures from a ferocious uppercut by Canelo, was seen in front of 73,126 fans.
It broke the previous indoor boxing record set by Muhammad Ali and Leon Spinks, who attracted 63,352 in their 1978 rematch.
Fury himself will have the chance to break pay-per-view records in the UK in the biggest boxing fight in British history against Joshua.
Sulaiman said the fighter is 'anxious' to get back to what he does best - entertain in the ring.
"I spent a very good time with him in Dallas. He's a tremendous character, he's a great champion, a great ambassador and he seems to me to be unbeatable.
"I like him very much as a person and he's just so anxious to get into the ring. That's what he told me, he's desperate to get into the ring."
Asked if he understood the frustration of Whyte, Sulaiman added: "Well I cannot comment on this, we are looking into some situations but all I can say is Dillian Whyte is the WBC interim world champion.
"We are very proud of Dillian Whyte. He had a tremendous victory recovering his interim title and of course he is a great potential fighter in the heavyweight division.
"He's a great fighter, I'm very proud of him. We awarded him a medal of honour for the sportsmanship he displayed after the fight with Povetkin and he's a dear friend as well."