Schaefer To Arum: Canelo Under Contract, Cotto is Free

by Rick Reeno

Golden Boy Promotions CEO Richard Schaefer spoke to in order to "set the record straight" with respect to certain statements that were published in an earlier interview with Top Rank's CEO Bob Arum .

During the interview, conducted by BoxingScene's David P. Greisman, Arum stated that WBC 154-pound champion Saul "Canelo" Alvarez (42-1-1, 30KOs) was a free agent. Greisman spoke to the veteran promoter about the possibility of a fight between Canelo and Puerto Rican star Miguel Cotto (37-4, 30KOs), who returns on Saturday night in an HBO televised fight against Delvin Rodriguez in Orlando, Florida.

“What does Golden Boy have to do with [Cotto-Canelo]? Canelo’s contract is over with Golden Boy,” Arum said.

Later in the interview, Arum again repeated that Canelo was "a free agent."

Schaefer tells BoxingScene that Canelo is under a "long-term" agreement with several fights remaining under the contract. And, Schaefer indicates that Cotto is a free agent and plans to sit down with Golden Boy in the near future. Cotto's legal adviser, Gaby Penagaricano, had told BoxingScene on numerous occasions that his client was a free agent with no promotional or network ties.

 "Canelo is under a long-term deal with Golden Boy with a multiple number of fights left [on the contract]. He must confused, because Miguel Cotto is a free agent - and in fact [Cotto's team] wants to sit down with me after the fight [with Rodriguez]. He must be confused as it relates with free agency. He must also be confused as well with Top Rank trying to undermine us with Canelo - because this is not their first attempt and in fact we have proof on how they attempted to undermine us [with Canelo] - and in due course everything will come out. But the bottom line is - Canelo is under a long-term deal with Golden Boy," Schaefer told

A press release was later issued where Canelo confirmed his contract with Golden  Boy.

"I am very happy with Golden Boy Promotions," said Canelo. "I'm scheduled to travel next week to Los Angeles to meet with Richard Schaefer and Eric Gomez for a meeting that we hold after each fight. I have a contract with Golden Boy Promotions with which I am very happy. Any event or matter that points to the contrary is false."

User Comments and Feedback (Register For Free To Comment) Comment by dc3383 on 10-06-2013

[QUOTE=MrRolltide91;13814456]Lets see what happens[/QUOTE] This what I was talking about

Comment by MrRolltide91 on 10-06-2013

Lets see what happens

Comment by dc3383 on 10-05-2013

Canelo is smart enough not to go any where near Top Rank

Comment by Cgarcia on 10-05-2013

Canelo was a free agent when they were negotiating the undercard role in the Mayweather/Guerrero. (His contract with GBP probably ended at that time.) Which is why nobody can bully him. Schaefer in the end probably offered him another lucrative…

Comment by Soto88 on 10-05-2013

I like how everyone forgets how gbp tried to steal donaire away while he was still under contract. Nothing new here.

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