Miguel Cotto Offered $10+ Million to Fight Canelo Alvarez

Miguel Cotto

Miguel Cotto could fight Sergio Martinez, whenever Martinez is healthy and make less money or he could choose this option.

“I met with Miguel and his team, and we had a very good meeting and I made him an offer in the eight figures, well over $10 million, to fight Canelo in March,” Schaefer told ESPN.com. “We had a really nice meeting and talked about a bunch of different things. We also talked about the fighters that our companies promote together.”

“But I know one other fight that Miguel is interested in, a potential rematch with Floyd Mayweather Jr. I haven’t discussed it with Floyd, but I am sure Floyd would be up for that as well if Miguel beat Canelo.”

“He realizes that, from a financial point of view, a fight with Canelo is clearly the biggest fight on the table,” Schaefer said. “I don’t take anything away from Sergio Martinez, who is a great champion. But if you ask anyone what’s a bigger fight, a Puerto Rican star against an Argentine star or a Puerto Rican against a Mexican star, we would all agree that Canelo against Cotto is a much bigger fight. There’s also a certain risk attached to the Martinez fight because he is injured now [coming off knee surgery], so who knows if he will be ready to fight [in June]?”

Cotto is a promotional free agent, so he isn’t effected by the Golden Boy/Showtime vs. Top Rank/HBO Cold War. The interest in Martinez would be because he can become first Puerto Rican to win 4 titles in 4 weight classes, but the $10+ million is on the table right now.

Seems like a no brainer to me and if Cotto beats Canelo that would lead to a $20+ million payday against Mayweather in a rematch.

We will see what happens.