By Miguel Rivera
As reported earlier on BoxingScene.com, former four division world champion Miguel Angel Cotto has parted ways with promoter Roc Nation Sport.
The two sides were unable to reach an agreement for Cotto's planned return for June 24th, against Japanese junior middleweight contender Yoshihiro Kamegai.
Bryan Perez, CEO of Miguel Cotto Promotions, confirmed the breakup Roc Nation. The two sides reached a three fight deal in early 2015. The deal was reportedly worth $50 million.
In the first fight of the deal, Cotto stopped former world champion Daniel Geale in the first half of 2015. He returned in the fall, in the second fight of the deal, and lost a twelve round decision to Saul 'Canelo' Alvarez in November 2015.
Cotto (40-5, 33 KOs) has been inactive since the loss to Canelo. An HBO Pay-Per-View fight was planned for February in Texas, against James Kirkland, but the event fell apart a few weeks before the card was scheduled to go forward after Kirkland withdrew with fractured nose that he claimed to have suffered in training.
"The breakup is a reality. Obviously it was done in the best terms for both parties," said Perez to Carlos Narvaez.
"There are cycles that begin and others that end, but very soon Miguel will be making an announcement where he will talk about his future and everything he has planned. [The split] was something mutual and within the best terms."
"Miguel has been in Puerto Rico for a few days. But he is calm and happy. He is waiting for news to take his next steps. It is unfortunate that this has happened, but boxing is a business that is not easy. Aligning all of the elements to make a big event requires a lot of work and coordination. It was not possible on different occasions for different reasons. The possibility of fighting in August is real. Several strategies are being worked on. We are confident and positive."