But while De La Hoya won't be in the ring, his company, Golden Boy Promotions, will.

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His company, Miguel Cotto Promotions, is promoting the fight with help from Golden Boy Promotions, which was founded by 10-time world champion Oscar De La Hoya.

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The second Arum quote is a dig at Top Rank rival Golden Boy Promotions, founded by De La Hoya, which has worked with Mayweather in recent fights.

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Steinberg also encouraged boxing great Oscar de la Hoya to promote his own fights, which the champion eventually did and along with Richard Schaefer, turn Golden Boy Promotions into a powerhouse.

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"Valuev was a great champion and an amazing attraction but today is really the beginning of a new time for the heavyweight division and the sport of boxing, " said Schaefer, who is chief executive of Golden Boy Promotions.

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"After a sound and fair analysis of the facts contained in the appeal filed by Golden Boy Promotions on behalf of Amir Khan with respect to the outcome of the WBA and IBF world title fight between Khan and Lamont Peterson, the WBA has ordered that an immediate rematch take place within 180 days, " read the statement.

CNN: Khan and Peterson set for immediate rematch