Cotto-Canelo fight deal shut down
Milan Ordoņez on Jan 18, 2015 09:44 AM
Photo credit: Miguel Cotto Official Facebook fan page
MANILA – The much talked about joint effort of Golden Boy and Top Rank had just been killed off.
After months of build up for what was supposedly the first major event after the end of the “cold war” between the two boxing promotion giants, the supposed May 2nd bout between WBC middleweight champion Miguel Cotto and former light middleweight world champion Saul “Canelo” Alvarez will not be happening.
Golden Boy Promotions head honcho Oscar De La Hoya explained the entire story in an interview with ESPN.com.
"The deal is off the table with Cotto,” said the six-division world champion. "They did not accept. So Canelo decided to move on. We had a deadline. We had our fifth deadline [Friday night], and Canelo has decided, because Cotto and [attorney] Gaby [Penagaricano] turned down the deal, he is obviously not going to be waiting for nobody.”
Cotto’s legal counsel Gaby Penagaricano did clarify that their camp did not turn down the offer. Rather, they were not completely satisfied with the full terms of the deal, mainly on the financial aspect.
"This is not about deadlines. This is about trying to making a deal,” Penagaricano said in a separate interview. “You either make it or you don't. I did speak to Oscar late [Friday night]. He said, 'We have to make a deal.' I said, 'We're not there yet. If you have to move on, I respect that. If you have to move, you have to move.'"
The cancellation of a would-be middleweight super fight now opens up the spotlight solely on the grander match-up of Floyd Mayweather vs. Manny Pacquiao, should negotiations turn out successfully.
But for Canelo, who is eager to take back the “Mexican dates” from Mayweather, the show goes on as planned on May 2nd.
"He has to move on and resume his career and we have to lock down an opponent,” said De La Hoya, who represents Alvarez. “He's still fighting May 2."
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