Comments Thread For: Cotto Saw Golovkin's WBC Spot as Financially Motivated

[Cinci Champ]

hey Miguel, you didnt seem to mind when for financial reasons the WBC allowed Martinez to fight YOU (even though you were not even ranked at 160)

That was just peachy. But now its a problem? lol

The biggest ********** in the sport is whining because other people think about money too.

Laughable........


p.s. and Im sure GGG's attorneys appreciate you admitting that you agreed to pay him the $800k. That statement will be quite helpful to them......

if u cant tell by his tone of quotes hes more pissed off by the principle of it all then any money he might lose. he didnt mind paying ggg the money at all he agreed to do such

[MDPopescu]

You are correct, OnePunch used the wrong term. It's not equivalent to an option contract, but a future contract.

A future contract mandates that you are obligated to make/take delivery of the goods at a certain time no matter what happens. Even if the market goes against you, you're still obligated to perform your duties.

Cotto's not off the hook because he ran into issues with WBC.

You say: A future contract mandates that you are obligated to make/take delivery of the goods at a certain time no matter what happens. Even if the market goes against you, you're still obligated to perform your duties.

... As about the BOLD above: don't cast your pearls before swine -- they can't understand... ever.

But OK, let's say that Cotto wins on Saturday... He still has the "lineal" belt and the Ring board also ruled that the winner must face Golovkin next or get stripped. In any case Cotto's "image" will lose.

[j0zef]

nope, an options contract is the proper comparison. A futures contract would indicate that GGG's step aside deal would have required that Cotto actually defend the title. Cotto actually "defending" had nothing to do with it. The step aside deal was to allow Cotto to bypass GGG's rightful position. GGG allowed that. Thats where the obligation ended.....

Im sure glad none of you guys are representing any of my interests.......lol

Perhaps you misunderstood me. I'm not saying futures contract is for the fight, but for the step aside fee.

I see what you're trying to say with option comparison.

But neither of our comparisons are the perfect analogies. Yours doesn't work because an option premium (step aside fee) gets paid before the delivery date (which obv didn't happen). My analogy (futures) doesn't work because Cotto's problems with WBC don't really represent 'the market'.

Source: I do this for living.

[Kagami Taiga]

nope, an options contract is the proper comparison. A futures contract would indicate that GGG's step aside deal would have required that Cotto actually defend the title. Cotto actually "defending" had nothing to do with it. The step aside deal was to allow Cotto to bypass GGG's rightful position. GGG allowed that, thus fulfilling the agreement. Thats where the obligation ended.....

Im sure glad none of you guys are representing any of my interests.......lol

Wrong wrong wrong wrong. You are correct in that it would be an option contract. You are incorrect in your comparison though. Because even though, yes cotto did agree to pay a step aside fee, Golovkin no longer needs to step aside. It's the WBC who is insisting the title be up for grabs by canelo. The WBC can just upgrade Golovkin to full champion or make him fight Canelo for the title if they see fit. So where is the performance here? And who's frustrating the purpose of the contract.

[North Star]

Just thinking about something. Is it always that champ that pays step aside fees? I could have sworn there were fights that the challenger paid the mando to step aside so he can face the champ.

[djt117]

I'm u do know the difference between a mandatory and a voluntary. The Martinez fight was a voluntary for Sergio. What he's talking about is different. Golovkin was made a mandatory by an organization where he shouldn't have been ranked at all since he is technically a champion for another org. That is the WBC bending it's own rules.

The WBC under Mauricio Sulaiman (who I feel, has been very fan-friendly in his tenure) has been ranking rival organizations champions in special cases where, in the WBC's view, there is widespread public mandate for a fight which would create an 3-belt world champion or an undisputed (4-belt) world champion.

This is why they ranked Kovalev #1 for Stevenson's WBC title (that didn't work out because HBO essentially put a gun to Kathy Duva's head and said no because they didn't want Haymon outbidding them with his massive war chest of cash and putting the fight on PBC).

They then made Golovkin the mando for the Cotto-Canelo winner. Cotto would've paid the 3% of his guaranteed purse regardless of who he fought (that's the $300K -- he's guaranteed $10 million from this fight).

But in order to have this fight with Canelo, he had to pay off Golovkin (the mandatory) to the tune of $800K!

Then Cotto started doing the math and said, "****! Another $300K? Avoiding this Kazakh basta*d is costing me a lot of money! And I'm not even going to fight him even if I win, so screw it, we'll drop the belt and I'll settle out of court with K2 for half"


I ABSOLUTELY LOVE (and ALL FIGHT FANS SHOULD LOVE) that the WBC under Mauricio is trying to use its power to create fights that fans want to see.

At least if fighters want to avoid other fighters, it forces them to either (1) fight the guy they want to avoid (2) pay a fortune for the privilege of ducking that guy, or (3) drop the title and reveals them as the shameful ducker they truly are.

People want Kovalev-Stevenson and they want to see the winner of Canelo-Cotto fight GGG. And the WBC under Mauricio seems like they're trying to deliver those kinds of fights.

[OnePunch]

Perhaps you misunderstood me. I'm not saying futures contract is for the fight, but for the step aside fee.

I see what you're trying to say with option comparison.

But neither of our comparisons are the perfect analogies. Yours doesn't work because an option premium (step aside fee) gets paid before the delivery date (which obv didn't happen). My analogy (futures) doesn't work because Cotto's problems with WBC don't really represent 'the market'.

Source: I do this for living.

I can cede that point. In boxing however, financials are always a mess. Im sure that neither Cotto nor Roc wanted to pony up the $800k up front, and I would suspect that knowing that Cotto would have $20mil or more liquid immediately after the fight, K2 would have agreed to be paid post-fight.

In the end, I suspect GGG has a solid case and will get his money. Less attorneys fees of course.......lol

[The Collector]

I don't see how the step aside can be enforced against him. He was stripped. He didn't let the title go. The organization stripped him and now he has jo title to step aside for. I highly doubt Golovkin is getting thst money from Cotto.

^^^ This is the way I see it too, but you never know what's behind doors!

[OnePunch]

The WBC under Mauricio Sulaiman (who I feel, is has been very fan-friendly in his tenure) has been ranking rival organizations champions in special cases where, in the WBC's view, there is widespread public mandate for a fight which would create an 3-belt world champion or an undisputed (4-belt) world champion.

This is why they ranked Kovalev #1 for Stevenson's WBC title (that didn't work out because HBO essentially put a gun to Kathy Duva's head and said no because they didn't want Haymon outbidding them with his massive war chest of cash and putting the fight on PBC).

They then made Golovkin the mando for the Cotto-Canelo winner. Cotto would've paid the 3% of his guaranteed purse regardless of who he fought (that's the $300K -- he's guaranteed $10 million from this fight).

But in order to have this fight with Canelo, he had to pay off Golovkin (the mandatory) to the tune of $800K!

Then Cotto started doing the math and said, "****! Another $300K? Avoiding this Kazakh basta*d is costing me a lot of money! And I'm not even going to fight him even if I win, so screw it, we'll drop the belt and I'll settle out of court with K2 for half"


I ABSOLUTELY LOVE (and ALL FIGHT FANS SHOULD LOVE) that the WBC under Mauricio is trying to use its power to create fights that fans want to see.

At least if fighters want to avoid other fighters, it forces them to either (1) fight the guy they want to avoid (2) pay a fortune for the privilege of ducking that guy, or (3) drop the title and reveals them as the shameful ducker they truly are.

People want Kovalev-Stevenson and they want to see the winner of Canelo-Cotto fight GGG. And the WBC under Mauricio seems like they're trying to deliver those kinds of fights.

excellent post.

[NEETzsche]

the language used by cotto and his legal advisor in this article suggests that they expect to have to pay something