By Salvador Rodriguez

The advisor to former three division world champion Miguel Cotto, Gabriel Peñagarícano, says for the time being they are only focused on trying to secure a fight with WBC middleweight champion Sergio Martinez - but if a deal is not closed by the end of January, they are going to explore other opponents as well.

Cotto has made it clear that he plans to fight on June 7th at Madison Square Garden in New York City - with or without Martinez.

"Two weeks ago there was a meeting in New York, there was significant progress. I will not go specifically into why there is no agreement, but there are a few details, two or three critical and important details, they have failed [to get agreed upon] to close the fight. We're working on getting that done," Penagaricano said.

"There is a little more than half a chance that the fight is going to get done. We are closer to doing it than not, but you never know. It's a big event and there are critical details. The date is set at Madison Square Garden, and the doors are open to the Martinez fight. But if not him, then it will be another. [If a deal is not reached by the end of] January, we will start looking at other things."