Miguel Cotto clarified that the rumored bout against Saul "Canelo" Alvarez in May next year is not set in stone as both sides are still negotiating the terms of the possible showdown.

Cotto, who holds a 39-4 record with 32 knockout victories, said that he is still waiting for his next opponent. He added that talks about a possible fight against Alvarez are just plain speculation at this point because they are still considering several options for his next fight.

"We're just waiting on our dance partner. We're always going to pick the best option," Cotto said via Tha Boxing Voice. "All we've discussed with Canelo is up in the air, all is negotiations, and there is nothing definite at this point."

Cotto said that while Golden Boy Promotions president Oscar De La Hoya and Top Rank Promotions CEO Bob Arum are confident that the fight will happen in May, the final decision will still be made by his camp.

The 34-year-old boxing star, who won the World Boxing Council (WBC) middleweight title against Sergio Martinez in June, said that they have already listed down their proposed fight terms.

"We've made what we wanted clear to the other side and now we're waiting on the other side to respond," Cotto said. "Miguel's always going to go to what benefits Miguel the most, so now we're just waiting. All I want is the best for my career."

Cotto declined to give specific details about their demands, but he said that they just informed Canelo's camp that they want to get what they deserve in terms of fight purse and revenue, which is reportedly the main stumbling block for the potential blockbuster fight.

"I didn't put any conditions on Canelo," Cotto said. "I'm simply just letting them know what I think I'm worth and earned the right to do so throughout the years. The balls in their court so now they can decide what they want to do."

Previous reports indicated that Canelo's camp is pushing for a 50-50 fight purse split and a lower catchweight for the middleweight title fight, but Cotto's camp reportedly wants to have a bigger share because the Puerto Rican will defend his title.

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