The much awaited megafight between Miguel Cotto and Saul "Canelo" Alvarez is almost official, according to both sides of the negotiations.
According to Boxing Junkie, the issue about the rematch clause has been settled and there's no more reason for the fight not to happen. The statement from Michael Yormark as told to USA Today
"I think it's fair to say that we've gotten past any of the major issues and we're now crossing the t's, dotting the i's. We want to make sure everything's agreed upon," Yormark stated. "We want no room for interpretation. We're rounding third, heading for home; we're very, very excited about this fight. We think this is the fight of the year. we just gotta make sure all the ducks are in a row, that everybody is on the same page on every issue. I think we're fairly close to making that announcement."
That makes it very clear that the fight is very close to happening. The issue about the rematch clause that Oscar De la Hoya brought up has been settled and apparently, it was about the purse split. De la Hoya's Golden Boy Promotions represents Canelo.
Another important detail is the weight, and it has been settled: catchweight at 155 lbs.
For Cotto, that means he has to shed weight again since he has already moves up, fighting at a catch weight of 160 lbs. He has three straight knockout victories since joining the stable of Freddie Roach.
For Canelo, he demolished James Kirkland last May. Canelo has never fought above 155 lbs but he's not wary if Cotto's bigger. The Mexican boxer's lone defeat was at the hands of Floyd Mayweather, Jr.
David Itskowitch, head of Roc Nation's boxing division (who represents Cotto) has confirmed that they have agreed to a "step aside deal" with Gennady "GGG" Golovkin, who is the WBC mandatory challenger. Cotto was supposed to give GGG a shot but he agreed to let this fight happen for an undisclosed amount.
In other words, they're paying GGG not to fight them. But the winner of this bout, who will also be WBC middleweight champ, will have to deal with him again.