By Rey Colon

Gaby Peñagarícano, legal advisor to WBC middleweight champion Miguel Cotto, makes it clear that there is nothing concrete to the recent twitter announcement of Oscar de la Hoya, President of Golden Boy Promotions, that a deal is practically done for a Cotto-Canelo showdown on May 2nd, Cinco De Mayo weekend. 

'No. That is not correct. There is no agreement yet," Penagaricano said.

Talks for this bout will take several weeks but according to Peñagaricano they have not ruled out a potential rematch with Floyd Mayweather Jr.

"The reality is that there is no agreement yet. None. For any fight. We are in talks, but an announcement that we reached an agreement for that fight [with Canelo] - it is not true. And a fight with Mayweather has certainly not been ruled out," Penagaricano said.

Even that date is up in the air, because there is still talk of a fight with Manny Pacquiao and Mayweather for the May date. Freddie Roach trains both Pacquiao and Cotto. One fight has to be ruled out to determine what Roach is going to do.

"That is a factor, but the fight of Pacquiao and Mayweather does not see real at all," he said. "In short, there is still no agreement for a fight between Cotto and Canelo. If there will be or won't be, we will know later on. The talks remain in progress."

Rey Colon covers boxing for