Miguel Cotto is close to announcing his first title defense against Jorge Sebastian Heiland of Argentina, but HBO has a condition before agreeing to pay license fee to carry the fight.
Cotto, the reigning World Boxing Council middleweight champion, is reportedly close to naming Heiland as his opponent for his upcoming fight June 6 in New York.
While there is still no announcement at this point, source close the situation said the Cotto-Heiland fight could be considered a done deal because both fighters are under adviser Gaby PeñagarÃcano.
"It's a very doable fight because Gaby PeñagarÃcano is the advisor to Heiland," the source privy to the fight talks told El Vocero. "It's a fight that is almost certain."
However, Cotto and his camp are still in negotiation with HBO for the fight. The source said HBO is not interested in the Cotto-Heiland fight, fearing that it will not generate enough revenue similar to the Puerto Rican's showdown with Delvin Rodriguez in May 2013.
To compensate, HBO wants to get a commitment from Cotto and his camp that he will face Saul "Canelo" Alvarez in his next fight later this year - a fight that is considered by many as the second biggest possible fight in boxing next to the upcoming showdown between Manny Pacquiao and Floyd Mayweather Jr.
"HBO is not interested in the fight because they view more like the fight Cotto had with Delvin Rodriguez," the source added. "But they are willing to accept it if their conditions are met - that a fight with Canelo is signed. So they are going to try to make the fight."
Alvarez, a former super welterweight champion who holds an impressive 44-1-1 card with 31 knockouts, is scheduled to face James Kirkland in a non-title fight on May 9 at Minute Maid Park in Houston, Texas.
Alvarez expressed strong interest in facing Cotto earlier this year and his camp was actually in deep talks with Cotto's representatives about the fight. However, after failing to get an answer from Cotto before the deadline that they set, Canelo and his camp opted to face Kirkland instead, but remained open to facing the Puerto Rican in the future.
Chepo Reynoso, Canelo's trainer, said that the Cotto-Alvarez fight is indeed the best option for both fighters. He does not think Cotto is afraid of Alvarez, but he is still puzzled why the 34-year-old declined to sign a deal in January.
"It's a fight people are interested to see because it's an attractive fight," Reynoso said of the Cotto-Alvarez fight. "On our part, we put in our all to try and make this fight. We lasted more than two months trying to negotiate. Cotto procrastinated in the end, and the fight didn't happen. Cotto didn't want to."
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