By Jhonny Gonzalez

Top Rank's CEO Bob Arum is not exactly pleased with the circulating rumors of a possible fight between Floyd Mayweather Jr. and Miguel Cotto. Mayweather is looking for an opponent for his May 5th date at the MGM Grand in Las Vegas. In a recent article on BoxingScene.com, Cotto's legal adviser Gaby Peñagaricano revealed Miguel's willingness to face Mayweather on May 5th. He also said Miguel was willing to reach a lucrative deal for a rematch with Manny Pacquiao on June 9th, also in Las Vegas.

There are no problems with making either fight. Cotto has a very good working relationship with Top Rank, and with Golden Boy Promotions, who work with Mayweather.

Arum is going to have a meeting with Cotto and Peñagaricano, possibly this week. He will present several options, among them are Pacquiao and WBC middleweight champion Julio Cesar Chavez Jr.

"We are nowhere near a final agreement for a rematch. I want to meet with Miguel and Gaby to explore several options and Pacquiao is one of them. If Chavez Jr. wins his fight on February 4 [against Marco Antonio Rubio], could be a possibility. Cotto wants to fight [Chavez]. He said it on more than one occasion," said Arum to Les Jiminez.

When Arum was advised of the increased rumors of a possible Mayweather-Cotto clash in May, he wouldn't say much on the topic, but he did say dealing with Mayweather "is a waste of time."