Miguel Cotto has to pay $2 million to Evangelista Cotto after a court decision failed to rule in his favor. Evangelista, who is Miguel's uncle and former trainer, claims that he did not receive a fair share of the boxer's fight money, and the final amount includes interest. Will Cotto's legal problems make him reconsider an offer from Bob Arum to do a rematch with Manny Pacquiao?
Miguel Cotto Loses His Case
Reports indicate that Miguel Cotto did not expect the court to rule in favor of his uncle. Evangelista Cotto initially asked for $7 million for the services he rendered as a trainer and manager. However, he has stated that he is satisfied with the $2 million, "Nos sentimos bastante cómodos (con la cantidad que se otorgó). [We feel pretty comfortable (with the amount awarded).]" However, Miguel's lawyer indicates that he will be waiting for the paperwork to arrive on Oct. 15, and an appeal is likely.
Oddly, Evangelista Cotto believes that the final court order will help him become closer to his nephew. Miguel Cotto had a vicious fight with his uncle in 2009 during training camp that included both verbal and physical attacks, and Evangelista allegedly threw a "cement block" at him.
Miguel Cotto's Next Fight
Could Miguel Cotto's legal problems force him to reconsider an offer from Top Rank to face Manny Pacquiao? He rejected a rematch with Pacquiao for Dec. 2012 and will meet Austin Trout in the ring on Dec. 1. Bob Arum has recently claimed that he offered Miguel Cotto $15 million for the rematch, yet the boxer still refused the deal.
Arum has actually blamed Miguel Cotto's advisor, Gabriel Penagaricano, for the failed deal. He is also the lawyer who is involved in Miguel's lawsuit with his uncle. Bob Arum claims that Penagaricano blocked a potential rematch with Manny Pacquiao without Miguel's consent, but the lawyer denies the accusations and insists that he shared all of the information with the boxer. Arum may have his own bias because he is not thrilled about the partnership that Penagaricano has formed with Golden Boy Promotions for the Dec. 1 fight.
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Lana started following boxing before Manny Pacquiao began his professional career. Follow @Lana_Bandoim on Twitter.
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