The veteran Ilocano fight man is also coming out of retirement after moulding two Filipino world champions in Luisita Espinosa and Morris East.
Peñalosa sought Rivera out with a plea to help out conclude an unfinished business – re-acquisition of the crown he wrested from WBC champion Hiroshi Kawashima or a title rumble with any of the willing world titleholders in the other organizations.
Rivera has scheduled Peñalosa to trade mitts with world ranked Roger Galicia on the last week of June or early July.
Peñalosa has had three tough-to-arrange golden opportunities under astute manager and former PBA commissioner Rudy Salud to regain the crown. But he lost twice against current champion Masamoru Tokuyama and once to In Joo Choo. All very close decisions, Rivera called them.
"It will take some doing for Peñalosa to get back on the world stage but there is hope," Rivera said.
"Peñalosa is a smart fighter and has kept himself in shape," added Rivera.