By Elisinio Castillo

Top Rank's CEO Bob Arum is confident that a deal will get reached for a June 7th clash between WBC middleweight champion Sergio Martinez (51-2-2, 28KOs) and former three division king Miguel Cotto (38-4, 31KOs). The negotiations have gained more steam after Cotto said he was unable to get himself prepared in time to face Saul "Canelo" Alvarez on March 8th. Cotto was offered $10 million dollars to face Canelo on the date.

The fight against Martinez is targeted for New York's Madison Square Garden, but the MetLife Stadium in New Jersey is also under consideration.

"I think HBO, [Cotto's adviser] Gaby [Peñagarícano], [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 Miguel Cotto against Sergio Martinez in June. Right now we continuing to analyze our options for the venue," Arum told Carlos Narvaez.

"Miguel and Gaby Peñagarícano are business people. They know that the money from the pay-per-view, tickets and everything else that's involved will generate much more revenue 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."