Oscar Valdez envisions returning to his hometown as a world champion again before he retires.

With that mission in the back of his mind, the former featherweight and junior lightweight titleholder is back in Nogales, Mexico, for a less meaningful fight he must win to get back into championship contention in the 130-pound division.

A rejuvenated Valdez (32-3, 24 KOs) is set to box Richard Medina (16-3, 9 KOs) of San Antonio, Texas, in a 10-round main event ESPN Deportes will televise Saturday night from Domo Binacional.

Valdez, 34, will fight for the first time since WBO junior lightweight champ Emanuel Navarrete knocked him out in the sixth round of their rematch December 7 in Phoenix.

“In boxing, I have had my ups and downs,” Valdez said during a press conference Thursday in Nogales. “In the Olympic Games, I tried to get a medal, but it didn’t happen. As a professional, I became a world champion, but then I suffered a loss. I was able to become a champion again, but suffered another loss as well. But that’s life. There will always be ups and downs.”

His second defeat to Mexico’s Navarrete devastated Valdez because he lost by knockout for the first time as a pro or amateur.

Bob Arum, Valdez’s longtime promoter, urged the two-time Olympian to retire. Arum told The Ring he views Valdez as someone who would be a successful trainer or broadcaster once he’s finished fighting.

Valdez appreciates Arum’s concern for his health, but he still believes there are junior lightweight champions he can beat.

“The main goal for me right now is to become a world champion again,” Valdez said. “I want to return to Nogales as a world champion, and I want to be your champion. But in order to do that, I have to get through this fight. I’m taking this fight very seriously. I respect Ricky Medina a lot. I have seen him fight. He is strong and young, and he has the same dream that I have. All boxers want to become a world champion, and that’s why we are all here.”

Medina, 24, hasn’t fought anyone as accomplished or experienced as Valdez, who has lost only to three-division champ Shakur Stevenson (24-0, 11 KOs) and twice to Navarrete (39-2-1, 32 KOs, 1 NC).

FanDuel lists Valdez as an 18-1 favorite, yet simply winning won’t suffice.

Valdez realizes he must dominate his hungry, younger opponent to prove he remains a legitimate contender. The WBC is the only sanctioning organization that has the 14th-rated Valdez in its top 15 and he is no longer listed in The Ring’s top 10.

“I need to make clear in this fight who will go on to fight for a world title,” Valdez said. “I want to be a world champion again, but in order to do that I have to win and give the example that in life you can come back from any defeat.”

ESPN Deportes’ coverage of the Valdez-Medina undercard is scheduled to begin at 10 p.m. ET (3 a.m. BST).