Cotto's decision leaves Manny Pacquaio with one less option for a proposed Dec. 8 date. Either a fourth fight with Juan Manuel Marquez or a rematch with Timothy Bradley Jr. seems inevitable. Marquez and Bradley are both worthy opponents but we've seen these fights before and there's no reason to expect the outcomes to be any different this time around -- 12 rounds and a close - potentially controversial - decision.
Will 2013 finally be the year fight fans get to see Pacquaio vs. Floyd Mayweather Jr.? It's hard to believe this fight still hasn't happened ... and there's no indication it's going to happen any time soon. If Pacquiao and Mayweather retire without facing each other, it will go down as one of the greatest missed opportunities in sports history.

Comments
The fight to make, and likely the bigger money fight since a Mayweather fight is on the horizon, would be the Bradley rematch. Manny certainly won the first fight–it really was not close at all and I have seen it three times now. One suspects Bradley knows this as well and it would not do his career any good with the cloud of a bad decision hanging over his head. Beside, if Manny wins, there would almost certainly be a third fight with Bradley, making for another big paycheck.
If Paq won a Bradley rematch, I can’t possibly see yet another rematch in their futures. Most everyone agrees Paq won the first time so it wouldn’t be a real rubber match. It would be another promotional tool for a fight with Money though.
JMM is not of interest to me personally. It’s played out and will be controversial. Ok, move on. I would rather see a “warm up” fight with Berto, James Kirkland, Khan, or Devon Alexander. Some dangerous warm ups there for the main event of Money May.
Maybe Manny Pacquiao could fight Andre Berto or Lamont Peterson. Pac Man has shown a willingness to enrich cheaters by beating them up (see Antonio Margarito). I believe Manny ought to fight Floyd or retire. Nobody cares about a fourth Marquez bout. And who cares about a Cotto fight? Pacquiao vs. Bradley again is marginally more interesting, but more and more of we fans are losing interest.