Miguel Cotto was gift-wrapped a title belt in February against Michael Jennings, but he won't defend it against Manny Pacquiao. (via www.boxnews.com.ua)

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Top Rank's Bob Arum confirmed the rumor that Miguel Cotto's WBO welterweight title will not be on the line in his November 14 clash with Manny Pacquiao.

"[Cotto] doesn't want to pay the sanction fee. So no, Miguel Cotto will not stake his crown against Manny Pacquiao. Nobody in the U.S. cares about the title anyway."

Remember that last line for the next time that Bob Arum and Top Rank try to sell you a fight as being for a "championship of the world." Remember to tell them that you don't care, and that they know it. I mean, he's right, but he sold Cotto's February win over Michael Jennings as "for the welterweight championship," you know what I mean?

This is all speculation, but I get the feeling that if Miguel Cotto was allowed to weigh 147 pounds for this fight, he would have put the title on the line. Two pounds is two pounds, and Cotto weighed 146 in June against Joshua Clottey anyway, so it shouldn't be a huge deal. But it's also a concession on Cotto's part. There is really nothing in the world stopping Manny Pacquiao from weighing in at 142, 143, where he and Freddie Roach might feel most comfortable, and giving away a few pounds, but they don't want to do that for Cotto. It's exactly what they did for Oscar de la Hoya, but Roach had zero fear of Oscar as a Pacquiao opponent.

In short, it's all business, and you just have to take it for what it is. Cotto gave away two pounds, so he's not going to pay a big sanction fee and risk his standing as a titlist for this fight. It does take some potential steam out of the promotional possibilities, as this would have been a chance for Pacquiao to win a title in an unprecedented seventh weight class.