Cotto vs. Canelo
The official promotional poster for the Miguel Cotto vs. Saul "Canelo" Alvarez fight on Nov. 21. Instagram / @Canelo

Latin America, get ready for a war in the ring on Nov. 21 at the Mandalay Bay in Las Vegas, Nevada.

On Thursday, the boxing world rejoiced when it was announced that Mexican star Saul "Canelo" Alvarez would finally step into the ring with Puerto Rico's Miguel Cotto in a much anticipated show down in November.

"I feel very happy that Cotto and I will write our own story and continue the legacy of great fights between Mexicans and Puerto Ricans," Alvarez told the LA Times during a telephone interview on Thursday afternoon. "I'm embracing this rivalry."

Cotto vs. Alvarez follows a deep line of battles in the ring between Mexican and Puerto Rican fighters. Many of the past bouts have included Wilfredo Gomez vs. Salvador Sanchez, Felix Trinidad vs. Oscar De La Hoya and Fernando Vargas, Julio Cesar Chavez vs. Edwin Rosario, and Chavez vs. Hector "Macho" Camacho.

Both fighters will fight at a catch-weight of 155 pounds, which is five less than the official middleweight limit. Alvarez (45-1-1, 32 KOs) is coming off a dominant performance against James Kirkland in which he unleashed a devastating knockout back in May. His only loss was in 2013, at the hands of Floyd Mayweather Jr., but since that loss he is rallied with three straight wins.

Cotto (40-4, 33 KOs) is the current World Boxing Council middleweight champion and has looked like a completely different fighter since he joined forces with one of the greatest trainers in the sport in Freddie Roach.

Alvarez is the most popular and richest fighter currently in Mexico. We imagine he will open up as a slight favorite over Cotto as she is also 10 years younger than the Puerto Rican body puncher. That doesn't bother Alvarez, and he still believes the fight will be his toughest test to date.

"This fight was made to be outstanding," Alvarez said. "That's what I'm preparing for. I'm training very hard, expecting an all-out brawl."

Cotto, who was previously accused of dodging Alvarez over the years, released a statement on Thursday, letting fans know that it was time to give the world the fight they most wanted to see.

"I will give the fans the fight they want to see," Cotto said in a statement. "I am here to fight the best names and the best fighters. This will be another chapter in my career and I will be ready for him."

In order to make the fight happen, concessions had to be made. Alvarez, who admitted deep respect for Cotto, will take the lesser percent of the purse from the gate and sales of the fight.

"He's a great champion, but I'm prepared for this," Alvarez said. "I'm working on my speed, conditioning, my power, my combinations every single day. The experience I've gained in the ring has made me a better fighter than I've ever been. This is a 50-50 fight, that whoever shows up more prepared with the better game plan will win the fight."

The press tour for both fighters will kick off in Los Angeles and travel to New York, Puerto Rico and Mexico before all is said and done. The fight is expected to eclipse at least 1.5 million pay-per-view buys, a fraction of the buys from Mayweater-Pacquiao earlier this year.

"It will be the biggest all-action fight of the year," Oscar De La Hoya who promotes Alvarez said. "The price will be a lot less than the Mayweather-Pacquiao for a far better fight."

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