Getty Images

The rematch between Terence Crawford and Errol Spence Jr. is on. After suffering a lopsided defeat in their July meeting, Spence exercised his contracted rematch clause according to multiple reports. The date and location for the rematch have not been announced and no other information has been released.

The first fight, one of the most highly-anticipated clashes of the modern era, was a disaster for Spence. Crawford dominated the fight on the strength of a hard jab, sending Spence to the canvas three times in the bout before the referee called a halt to the action in the ninth round. With the win, Crawford became undisputed welterweight champion and remained undefeated as he handed Spence his first career defeat.

After the fight, Spence, who had already teased a move up in weight, said he hoped the rematch would be contested at the junior middleweight limit of 154 pounds. At the time Crawford said that he was also keen on moving up a division.

Can't get enough boxing and MMA? Get the latest in the world of combat sports from two of the best in the business. Subscribe to Morning Kombat with Luke Thomas and Brian Campbell for the best analysis and in-depth news.

According to the bi-lateral rematch clause, the loser could initiate a rematch but it would be the winner who would determine the weight for the second meeting and Crawford could technically force Spence to cut to 147 one more time.

A move up in weight would likely leave all four welterweight world titles vacant.

The title landscape at junior middleweight is somewhat complicated. Jermell Charlo is currently undisputed champion at 154 pounds but is moving up in weight to challenge Saul "Canelo" Alvarez for the undisputed super middleweight championship on Sept. 30. The moment Charlo is announced as undisputed junior middleweight champion in the ring that night, he will be stripped of his WBO title and Tim Tszyu will be elevated from interim to world champion. Tszyu is expected to defend that title against Brian Mendoza on Oct. 15.

The WBC, IBF and WBA could also be tempted to strip Charlo, especially if they could tie their world titles to the big-money rematch between Spence and Crawford.