Bob Arum tells Lem Satterfield that the December 3 rematch between Miguel Cotto and Antonio Margarito is nearly done, as Margarito agreed to terms yesterday and Cotto has already verbally agreed:
"It will either be in Las Vegas or at Madison Square Garden. I finalized Margarito yesterday, and Cotto, I'm pretty well finalized. I'll nail that down next week."
Yesterday, Lance Pugmire reported that Cotto had already verbally agreed to the fight.
I know many are hoping the fight will land on the hallowed ground that is Madison Square Garden, but when Vegas gets thrown into the comment like this, hopes for MSG have to be tempered. Vegas can pay more for the fight and Nevada doesn't have New York's taxes, which is the real deterrent that has led to less and less major boxing events in New York.
So where do you think the fight lands? Vegas or MSG? Keep the taxes in mind, but also keep in mind that the fight would be a hit in NYC in large part thanks to Cotto's huge popularity, and of course the revenge storyline for this fight. I can't imagine a better spot to paint Cotto as the hero and Margarito as the villain than Madison Square Garden (except Puerto Rico, of course), but money usually talks.