By Miguel Rivera

There is no deal yet, but Top Rank's CEO Bob Arum says the negotiations are ongoing for a middleweight fight between WBC champion Sergio Martinez and former three division king Miguel Cotto. The target date is June 7th, with Cotto reportedly leaning in the direction of New York's Madison Square Garden for the venue.

Top Rank President Todd duBoef is handling the negotiations with Cotto's legal adviser Gaby Peñagarícano.

Cotto's next opponent is not clear. There is also a $10 million dollar deal on the table for Cotto to face Saul "Canelo" Alvarez on March 8th.

"[When we met in Macau] we talked about a lot of things besides boxing. The negotiations for Miguel's next fight are being handling by Todd and I prefer to stay out. I know they have had several conversations about it and [those discussions] will continue in the coming days," Arum told Carlos Gonzalez.

"[A fight with Martinez] would be the best thing for Michael. He would have the opportunity to win a world title in the middleweight division and that is something that he really wants. I want to emphasize that I have not discussed the idea with Miguel. Todd is the one who has handled everything with Gabriel Peñagarícano."