On Thursday?s edition of ESPN?s ?First Take?, four division world champion Miguel Angel Cotto made the big announcement that he will indeed be working with Jay Z?s ?Roc Nation Sports.”
According to a press release from the NYC based entertainment group, the Caguas native, as well as Miguel Cotto Promotions, will be partners in the co-promotion of various boxing events in Puerto Rico, in addition to other business collaborations within the American Commonwealth.
Although no specifics of the deal were disclosed by Roc Nation Sports, one would have to assume that Cotto was attracted to the newly formed organization with a hefty signing bonus and a guaranteed figure for multiple years.
?I am just finishing the last part of my career by doing what is in the best interest for me and my family,? Cotto told ESPN on Thursday morning.
?We had the opportunity to work with and have nice relationships with Top Rank and Golden Boy, and now we have an agreement with Roc Nation.”
“That was the best option for us. Just like any other businessman, I am just thinking about the benefits, the money, and the opportunity in the deal.?
In the business of boxing, there?s a modern adage that would seem to be appropriate when rationalizing this maneuver: ?He who has the network dates, holds the key to boxing?s future.?
When cultivating and nurturing young talent, it?s essential for a promoter to have an active working relationship with various networks to keep their stable of fighters busy throughout the entire calendar year. Without a steady number of network dates on the promotional calendar, which ultimately brings activity, financial support, and exposure, the process becomes a bit overwhelming for any young promotional group.
Without the assistance that comes with television, a promoter is forced to depend on regional sponsorship and ticket sales to support its entire stable of fighters?it?s a process that has proven to be too expensive for most.
Currently, the primary figures who have a stronghold on the coveted TV dates are Al Haymon?s ?Permier Boxing Champions? , Oscar De la Hoya?s ?Golden Boy Promotions?, and Bob Arum?s ?Top Rank, Inc.? .
Because Cotto is already one of the biggest mainstream draws within the fringe American sport, the 34 year old fighter could be the key to attracting young talent and building a healthy relationship with the major television networks who customarily feature boxing entertainment for the budding, young promotional outfit.
But there?s a big problem with this strategy?Cotto wants big A-side dollars with each and every performance at this stage of his future Hall of Fame career.
Realistically there are only four fighters in the world today who could possibly grant the kind of purse for which ?Junito? is currently searching: Canelo, Triple G, Pacquiao, and Mayweather.
And in all of the aforementioned match-ups, Cotto would be the considerable underdog leading into each event.
If anyone thinks any Al Haymon fighter will be an option for Miguel anytime soon, think again. Haymon isn?t in the business of enhancing anyone else?s promotional brand and prefers to keep everything in house.
Promotions 101…when a promoter keeps his talent competing within the same promotional banner, every fight becomes a win-win situation for the company.
So don?t expect Haymon to allow Amir Khan, Marcos Maidana, Chavez Jr. or anyone else at 147, 154, or 160 to tangle with the Puerto Rican superstar.
And at this stage in Cotto?s career, the four division titlist is only interested in competing maybe once or twice per year. Good luck getting TV dates that way.
Roc Nation is quickly learning the same harsh boxing lesson taught to 50 Cent upon his entrance into the brutal business of boxing. It?s not enough just to poach talent and offer them big signing bonuses.
Without network dates and a healthy working relationship with other promoters and managers within the industry, it?s very difficult to attract and cultivate talent. Roc Nation will more than likely be forced to put Miguel on another promoters fight card in 2015, who already has an existing relationship with the big money networks…just like 50 Cent was forced to do with James Kirkland and Yuriorkis Gamboa.
There’s also a very good chance RNS will figure out that Cotto’s recent resurgence in the sport was in large part due to the crafty matchmaking of Top Rank, Inc. With big wins over Delvin Rodriguez and an ostensibly wounded Sergio Martinez in 2013 and 2014 respectively, Miguel was perceived to be at the top of his game by the majority of the boxing world once again.
Reality or perception? Roc Nation will definitely find out later this year.
Best of luck to Miguel Cotto and Roc Nation Sports?they?re going to need it in 2015!!
