Sanchez was set to fight Magdaleno, who lost in a WBO Super Featherweight title fight to Roman Martinez in Macao last year, until earlier this week when Top Rank had a change of heart.
Although we're unsure on the specifics we believe it was down to Manny Pacquiao's controversial advisor Michael Koncz who apparently claims to be the manager of Sanchez, a claim disputed by Highland boxing manager and matchmaker Brico Santig and Ronald Jerez.
Whilst this is obvious a great loss to Sanchez, who was set to pick up a $6,000 payday and a chance to fight a very highly ranked opponent on US TV, it shouldn't surprise anyone who is familiar with Koncz. The Canadian advisor has already been accused of stealing $11,000 from Sanchez for Sanchez's service in the past and is almost certainly going to be a thorn in the young Filipino's side if, and when, he wants to try and fight in the US or in Mexico again.
Incidentally Sanchez's bouts with both Wilton Hilario and Coy Evans, both wins in the US, are not recognised by the Filipino Games and Amusements Board (GAB). Both of these were organised by Koncz who is alleged to have bypassed the GAB hence the lack of recognition by the organisation.