Miguel Cotto vs. Sergio Martinez: Bob Arum says the fight is "very close" to happening

It's looking like it's become an almost sure thing that Miguel Cotto will be moving up in weight to challenge Sergio Martinez in June for the middleweight championship of the world. According an article by Boxing Scene's Elisinio Castillo, the target location for the battle is Madison Square Garden in New York, with New Jersey's MetLife Stadium having an outside shot.

Arum claims that the promoters for each side are "very close" to a deal, making it sound as if it's only a matter of time.

"I think HBO, (Cotto's adviser) Gaby (Penagaricano), (Top Rank VP) Todd (DuBoef), and (Martinez's promoter) Lou Dibella are very close (to a deal) and they are working out all the details. We are optimistic that we will see Miguel Cotto against Sergio Martinez in June. Right now we are continuing to analyze our options for the venue," Arum told Carlos Narvaez.

"Miguel and Gaby Penagaricano are business people. They know that the money from the pay-per-view, tickets and everything else that's involved will generate much more money than anything offered by Golden Boy or anything that might generate in a fight between Miguel and Canelo."

"Remember that Miguel has the opportunity to do something no Puerto Rican has ever done, which is to win a fourth title in a (fourth) division. That means a lot to Miguel and his legacy. A fight on that date would be a special (event) for all of the Puerto Ricans who also attend the Puerto Rican Day Parade as well."

A few years ago a fight between Cotto and Martinez would have seemed like a mismatch created only for a money grab. But times have changed. Martinez is at his most vulnerable it would seem after eking out a tight decision over Martin Murray, and being inactive since April won't help either by the time they fight in June. The middleweight champion also suffers from various injuries, notably to the knees.

This figures to be a legitimately big event if it does occur in Madison Square Garden near the Puerto Rican Day Parade. Cotto has fought on this occasion a few times in the past which normally results in a raucous crowd.

The only downside? It could be the third PPV in a row if Manny Pacquiao fights in April and Floyd Mayweather fights in May. So cancel that summer vacation you were so foolishly planning.