By Miguel Rivera

The president of the World Boxing Organization (WBO), Francisco 'Paco' Valcarcel, brushes off the idea of a future rematch between Miguel Cotto and Saul 'Canelo' Alvarez.

Canelo captured the WBC middleweight title when he won a very competitive twelve round decision over Cotto last November at the Mandalay Bay in Las Vegas.

Cotto has been inactive since losing that fight with issues securing an opponent. He is expected to return in early 2017 at the Barclays Center in Brooklyn, New York.

Canelo has since vacated the WBC world title and moved down in weight, and earlier this month he captured the WBO junior middleweight title with a knockout of unbeaten Liam Smith.

Cotto is also planned to return to 154-pounds. A rematch between Cotto and Canelo would mean big business, but Valcarcel doubts it will happen - because Canelo is expected to move up to 160 pounds for his next fight, targeted for May of next year.

"I do not see [a Cotto-Canelo rematch] in the picture. I think that Canelo is on his way to 160 pounds to evaluate the possibility of a match against Gennady Golovkin in September. But that's what I think might happen," Valcarcel said to El Vocero.

Once Canelo moves up to 160, Valcarcel says the door is wide open for Cotto to fight for the vacant WBO title.

"Miguel Cotto is ranked with us. The doors are open. The day Canelo goes up, of course there is the opportunity for Miguel [to fight for the title]. He is there," said Valcarcel.

The first time Cotto became world champion, was against Kelson Pinto in 2004. At that time he captured the WBO super-lightweight title, which he defended five times. In 2009 he returned to the WBO by winning the welterweight crown against Britain's Michael Jennings, a belt Cotto lost later that year to Manny Pacquiao. Since then Cotto has not gone after a WBO world title.