Bob Arum: Miguel Cotto vs Sergio Martinez is ‘Very Close’


Miguel Cotto has been boxing’s most sought after fighter this winter and according to Boxing Scene’s Elisinio Castillo Bob Arum has made him the best offer.

To be honest Showtime boxing and Golden Boy Promotions doesn’t need Cotto. They proved that much with the Broner vs Maidana ratings. Top Rank needs Miguel Cotto to help sell fights in 2014.

Arum said this about the fight:

“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.”

Sergio Martinez is a great champion but is on the decline and has never been the biggest draw in terms of PPVs. Cotto brings the Puerto Rican dynamic into the fight, Puerto Ricans have always had a strong boxing history and tradition, which means that he a fight in New York should do very well at the box office.

Possible locations being discussed for fight include Madison Square Garden (the most likely), the Barclays Center, and a possible outdoor venue in Metlife Stadium.

Cotto will carry that pay-per-view and with a victory he can put himself back in the conversation of the best Puerto Rican fighters ever.