Cotto Advisor Gaby Penagaricano Denies Rumor of 40 Million Dollar Offer for Mayweather Rematch


    GabyThere was speculation in the boxing world that Al Haymon offered the celebrated Puerto Rican star Miguel Cotto, 40 million dollars for another shot at the pound for pound king, Floyd Mayweather Jr. These ongoing talks originated from a news based website called, El Vocero de Puerto Rico. The intentions of this deal were to disrupt a possible mega fight between Miguel Cotto, and the highly celebrated Mexican fighter Canelo Alvarez, thus leaving the availability of May 2nd open for Floyd Mayweather Jr. to seize once again.

    These talks did not sit too well with certain boxing fans because it meant both the Mayweather-Pacquiao and Cotto-Canelo matchups would not be coming into fruition in the immediate future, thus causing a halt to the two potential fights fans have been raving about the most for this upcoming year.

    Fortunately these fans can finally regain their keenness, because Gaby Penagaricano, the legal advisor of Cotto, denied ever receiving such offers from Al Haymon. He told, “That [the rumors of Haymon offering 40 million dollars to Miguel Cotto’s team], is just completely false.”

    This still does not guarantee Cotto will fight Canelo just yet. Cotto’s team is still analyzing all their options, but according to, a decision would be made in early January, and apparently Penagaricano seems to be on the same page as Bob Arum, in regards to a Cotto-Canelo fight should be finalized sooner rather than later.