Mikey Garcia, Top Rank reach contract settlement

Former featherweight and junior lightweight titlist Mikey Garcia and career-long promoter Top Rank, locked in a dispute over his promotional contract, have reached a settlement, Top Rank chairman Bob Arum said Thursday.

Garcia, unhappy over his purses, which had been increasing to career-high six-figure levels fight after fight, eventually sued Top Rank in 2014 to get out of the agreement, and the parties have been fighting it out since.

Although Garcia's Top Rank contract was up in August, they reached a deal and are in the process of putting it to paper, Arum said.

Garcia (34-0, 28 KOs), of Oxnard, California, won a featherweight world title by dominant eighth-round technical decision against Orlando Salido in January 2013. Garcia never defended the belt. He failed to make weight for his first defense against former titleholder Juan Manuel Lopez six months later. He knocked Lopez out in the fourth round, and the title remained vacant.

The 28-year-old Garcia, the younger brother of top trainer Robert Garcia, then moved up to junior lightweight and won a world title in his first fight in the division, knocking out Roman "Rocky" Martinez in the eighth round in November 2013. In January 2014, Garcia retained the title by unanimous decision against Juan Carlos Burgos.

Garcia, who has not fought since the fight with Burgos, eventually vacated the title in October 2014.

Terms of the deal between Garcia and Top Rank were not disclosed.

"All parties came to a mutual agreement," Top Rank vice president Carl Moretti told ESPN.com. "Details of that agreement are a confidential matter. We all move on and do what we do."