Less than a week away from the big Pay-Per-View showdown between Miguel Cotto and Saul “Canelo” Alvarez at the Mandalay Bay Events Center in Las Vegas, the World Boxing Council (WBC) stripped Cotto of his middleweight strap.
Cotto (40-4, 33 knockouts) explained why his belt was taken away and he claims it is because of “greed” shown by the WBC.
After deciding to forgo paying a total of $1.1 million in fees, made up of a step aside fee of $800,000 to by pass a mandatory bout with Gennady Golovkin and a $300,000 sanctioning fee for his WBC belt, the Puerto Rican boxing icon was stripped of his 160-pound belt.
“I think the greed in the organization needs to stop,” Cotto said. “I’m not angry. Would you rather keep $1.1 million in your banking account, or pay it to one organization?”
Alvarez (45-1-1, 32 KOs) can still win the belt in the Saturday night clash, but if Cotto wins all he gets is the admiration that comes with a victory in addition to keeping a tad over $1 million tucked away in his bank account. Looks like win or lose, Cotto still wins in the long run.