RING middleweight champion Miguel Cotto’s adviser has “nothing to report” in the wake of the failed negotiations with Canelo Alvarez, who will instead fight hard-hitting southpaw James Kirkland potentially in May.

“We haven’t spoken much boxing in the past few weeks. So we will reconvene and start planning whatever comes next in the first half of the year,” said Gaby Penagaricano, who had mentioned “other options” other than Alvarez during an earlier interview with RingTV.com.

“But honestly, there is nothing to report because we haven’t been discussing clearly much yet…There is nothing specific. Obviously, there are many candidates out there who would love to fight Miguel Cotto, so I don’t think that’s going to be a problem at all.”

Asked if he had spoken to adviser Al Haymon regarding a potential rematch with Floyd Mayweather Jr., who is supposedly in talks for a May 2 bout against Manny Pacquiao, Penagaricano said, “Not regarding that fight.”

“Al and I are good friends. We speak about business very frequently,” said Penagaricano. “I represent fighters together with him, so we have a lot of business to discuss. But nothing regarding the Cotto-Mayweather fight.”

Among the boxers Haymon and Penagaricano jointly handle are undefeated super middleweight Jonathan Gonzalez and twice-beaten junior featherweight Cesar Seda, the latter of whom lost a unanimous decision to RING No. 2-ranked WBC titleholder Leo Santa Cruz in December 2013.