I agree that Showtime probably doesn't want a Cotto fight next, but ultimately Mayweather has to agree with whatever is put on the table. This point doesn't account for the fact that Showtime can hold negotiations on multiple fights simultaneously. Showtime may really want the Manny fight but also have Cotto in the back pocket in case Floyd simply refuses to fight Manny.
I agree this fight seems far less likely than a Pac fight. I mentioned yesterday that Cotto was using Arum to negotiate the Canelo fight...so since Cotto still intends to fight again it would mean Cotto would have to cut ties with Bob for a Floyd fight or Arum is still actively negotiating a new fight for Cotto. Sadly the boxing writers are too dumb to piece this together and actually ASK Bob revealing questions. Either way...Arum likely knows what is what. Possibly Roach too.