Oscar De La Hoya has confirmed to RingTV yesterday that Canelo Alvarez has agreed to a deal to fight Miguel Cotto. Though Miguel Cotto has technically been a free agent the past couple of years, he pretty much has always worked with Top Rank to set up his fights. Oscar has been primarily working with both Todd duBeof and Cotto's legal adviser, Gaby Penagaricano to come to an agreement. But when things got to a sticking point, Oscar reached out to Bob Arum to work past certain issues.
"My side is done and dealt with. We have agreed. So now, I'm waiting on Bob to get their side done," said De La Hoya.
"Bob and I talked about the major issues that were a possible concern. But after our conversation, we found out that this fight will get made relatively sooner than anticipated. So we're getting closer. We are getting closer. I have no doubt in my mind that we will get Canelo-Cotto done for the May 2 of next year."
Bob Arum also commented on the negotiations:
"I am not the one who is negotiating," said Arum. "What happened was, there was an impasse, and Oscar reached out to me and I met with him, and we discussed how to solve the impasse and it was a very productive meeting. But the idea that I'm involved in conducting the negotiations with him is just not correct. I was called in to help out and to help to move the negotiations along. I believe that we had a very productive meeting, Oscar and I.
"We're still negotiating. Miguel has not been informed yet of various details of the negotiations, and everything is progressing favorably. But it has to take a little bit more time. We have to go through the process."
Oscar then goes on to talk potential locations for such a fight. Conventional wisdom would suggest Madison Square Garden would be a great site, but it doesn't seem to be even amongst the top two choices. This may be because although Cotto can pack MSG with Puerto Ricans, Alvarez can do the same with Mexicans in Texas, and that's certainly a more desirable environment for Canelo and Golden Boy.
"Las Vegas is a consideration. Texas is a consideration, especially with Jerry Jones wanting to host big fights, and especially with the Alamodome, which there is no doubt in my mind we will break the Julio Cesar Chavez-Pernell Whitaker record," said De La Hoya, referring to the Sept. 10, 1993, fight which attracted 58,891.
"In terms of attendance, I am sure that will happen. New York is not out of the question, but our priorities are Las Vegas and Texas for this fight. So the venue still is open as to where we're going to bring it, but first things first, and that's that we have agreed on some major points, which is a huge step in the right direction. So I have no doubt in my mind that Canelo and Cotto will be fighting on Cinco De Mayo, and we're moving in the right direction."
If Cinco de Mayo is truly the targeted weekend, as Canelo insists to us, that puts them directly in the line of fire for Mayweather's typical PPV date. Floyd will have to come up with a good opponent (*cough cough* Pacquiao) to give them a run for that date and maintain his position. OR, he can hope that Cotto doesn't end up signing off on the fight, which seems pretty unlikely. Anyways, whenever and wherever it takes place, it'll be sure to stir up the Mexican-Puerto Rican rivalry. Sign the papers Miguel!!! Trust me, it's much better than the prospect of fighting GGG.