By Miguel Rivera

Former four division world champion Miguel Angel Cotto is moving forward with his plans to have only bout of 2016.

He was targeting fellow four division beltholder Juan Manuel "Dinamita" Marquez, but that fight has now been officially ruled out by the Puerto Rican star - unless Marquez steps away from his weight requirements, which is unlikely.

The vice president of business operations for Miguel Cotto Promotions, Bryan Perez, confirmed that they are currently analyzing opponents with Roc Nation Sports - and expect to make an announcement in the coming weeks.

Marquez, with a record of 56-7-1, 40KO's and 42-years-old, was refusing to fight Cotto at anything more than 147-pounds. Cotto wanted 150-pounds, but some source stated that he was willing to go down to 149 - which Marquez rejected.

Cotto (40-5, 33KOs) is going to fight at 154 pounds and reportedly will have a guaranteed minimum purse of $15 million.

"We are waiting for news from Roc Nation to see how the scenario looks for fall. You will soon have a definitive picture," revealed Perez to ESPN Deportes.

"The fight [we wanted] was with Marquez, but he made some public statements regarding the terms for the weight. That was the fight Miguel wanted, but it is not going to happen. The position of Marquez was clear and we respect it. There was too much posturing and this time [the discussions] failed. Hopefully it can happen later on."

Cotto has been out of the ring since losing a twelve round decision to Saul 'Canelo' Alvarez last November at the Mandalay Bay in Las Vegas. Two of the dates being kicked around for Cotto's return include October 8th and October 15th.

"Miguel is feeling good and he is in positive spirits. He is ready to continue working. We have no definite dates, but we're still working to return in the fall or at the end of the year," Perez said.