According to Sky Sports, the 20-year-old rising heavyweight star could have shared the ring with The Cuban Flash, 33, after Efe Ajagba, 31, turned down a Sanchez fight, though Itauma has now also chosen another route to a world title bout.
Last week, the IBF confirmed Itauma was considering a match with Sanchez.
The body said in a statement: “We are waiting to hear back on availability for Moses Itauma. If he confirms he is available then he and Frank Sanchez would be ordered to negotiate. They would have 15 days from the order.”
As a result of Itauma rejecting the fight, Richard Torrez Jr., 26, is said to have been offered the bout, with the winner of the match becoming the mandatory challenger to Usyk’s, 38, IBF championship.
Even so, Itauma may still find another way to do battle with The Cat, and his trainer Ben Davison thinks such a bout would be a “win-win” for both sides.
He said of a possible Usyk fight: “I would take it. I would. I think it's a win-win.
“As much as Moses hasn't boxed anybody like Usyk, I don't think Usyk's boxed anybody like Moses. I think he would openly say that himself.
“It's something he [Itauma] would be up for. I think he's got the mindset: if you're taking a dive [into the deep end] you might as well take the dive. Hopefully we may end up in a world title fight.”
Itauma is looking for one more match before the end of 2025, and Davison thinks Jermaine Franklin, 31, or Filip Hrgovic, 33, would be a good fit.
The trainer said: “Those are the two on everybody's lips. They're not interested and it's the same for pretty much all of them, so it's difficult.
“It's difficult to get these opponents at this moment in time. They're not interested, they don't want to play ball.
“They just want so much money to box him it's hard to get the opponents. The next fight, if we can pull something off and get somebody like that we're all for that. That's what we're after, the same as everybody else.
“But if not I suppose we'll have to drop down a level and try again in the new year maybe.”