The two fighters have been locked in talks for months over a high-profile clash on June 7 at the world famous Madison Square Garden and Penagaricano has exclusively told WBN that he believes the fight will be confirmed soon.
A 159lb weight stipulation has been agreed by both sides in the initial negotiations, with some portions of the undercard already in the works for what will be a massive night of boxing in New York over the summer.
Three weight world champion Cotto, 33, has long-talked about his desire to claim a fourth weight title in as many classes and moving up to face Martinez is seen as a shrewd move by many as the Argentinian has always been a small middleweight.
‘Maravilla’ has even proclaimed that he could still make welterweight if a clash with Floyd Mayweather came calling, although the 38 year-old will now look to build on his recent victories over Julio Cesar Chavez Jr and Martin Murray at 160.
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