The highly anticipated showdown between Saul "Canelo" Alvarez and Miguel Cotto could be finalized this month as the two camps are reportedly working on the final details of the bout.

Gabriel Penagaricaño, the legal adviser of Cotto, told El Vocero that 90 percent of the terms have been finalized. The showdown will reportedly take place in November, but the venue is still being worked on.

"We are still not clear if it will be on that date (November 21), but will know quite possibly this month," Penagaricaño said via BoxingScene. "The important thing is that everything has gone well and I understand that soon there will be an agreement finalized. And yes, from what I understand the fight will be in November."

Golden Boy Promotions president Oscar De La Hoya also said that they are close to agreeing a deal with Cotto's camp. The Hall of Fame boxer confirmed that the fight venue is one of the biggest issues they need to work on because the two fighters have different preferences.

Cotto previously said that he wants to fight in New York or Las Vegas, while Alvarez prefers to fight in Texas.

"We're close, we're very close," De La Hoya said of the fight via BoxingScene. "It's a matter of crossing the t's and dotting the i's. We have a lot of people interested and we obviously want to go to the venue that makes the most sense for both fighters."

But when pressed to give details on the possible venue of the fight, De La Hoya said that the fight will be staged in Las Vegas -- either at the MGM Grand or at the Thomas and Mack Center. But Cotto sounded like they are leaning towards picking MGM Grand because of the magnitude of the proposed Cotto-Alvarez fight.

"They've staged the biggest fights in the history of the sport and it's a place where 'Canelo' has fought and Cotto, so it's a perfect venue to stage this type of fight," De La Hoya said of MGM Grand. "So we just have to move a few things around and we'll have something in place in the couple of days."

Alvarez, who holds a 45-1-1 record with 32 knockout victories, is coming off a third-round knockout win against James Kirkland, while Cotto scored a fourth-round knockout win against Daniel Geale last month to improve his record to 40-4 with 33 knockouts.

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