By Steve Kim

We seem to be inching towards an official announcement in regards to the highly anticipated bout between Saul "Canelo" Alvarez and WBC middleweight champion Miguel Cotto, which looks like will take place at the Mandalay Bay in Las Vegas on November 21st.

Oscar De La Hoya, the head of Golden Boy Promotions advised on Tuesday morning - "All we need is to negotiate one little point.  Look Golden Boy's on board, Roc Nation (Sports) is on board, Canelo's on board, Cotto's on board, Vegas is on board, The only person we're waiting for is Gaby Penagaricano."

Penagaricano is the adviser to Miguel Cotto. When asked what the remaining issue was, De La Hoya stated - "The issue is in the details of a rematch clause."

According to De La Hoya, it's something that both sides want,"because if it's a great fight the way we think it's going to be, we both want to be able to go into a rematch automatically."

Cotto-Canelo is perhaps the most heavily anticipated fight for the remaining of the 2015 boxing calendar. Fans have been chomping at the bit for this even to be finalized.

"I know Cotto wants the fight, I know he's already training, same for 'Canelo, he's already training, he's ready to do," said De La Hoya ."We're waiting for an answer from Gaby."

Steve Kim is the news editor for