After months of legal skirmishes, Ricky Martin and his former manager, Angelo Medina, have reached a confidential settlement in a Superior Court in San Juan, Puerto Rico.

MIAMI -- After months of legal skirmishes, Ricky Martin and his former manager, Angelo Medina, have reached a confidential settlement in a Superior Court in San Juan, Puerto Rico.

"It's many emotions, and honestly, I don't know where to begin," said Martin, who hugged Medina during a press conference Oct. 13 at the court. "The only thing I can say is this is finally over."

The settlement between Martin and Medina, who was his manager for 12 years, stems from a suit the singer filed Feb. 17 in the New York Supreme Court. In his suit, Martin sought recovery of $2.5 million from Medina for "unearned management commissions, through the assertion of claims for unjust enrichment, breach of agreement and breach of fiduciary duty."

The suit refers to several advances that Martin received by his label, Sony Music Entertainment, based on his obligation to record at least five future albums.

Medina, in turn, filed a $63.5 million countersuit against his former client in March, alleging breach of contract and unjust enrichment, among other claims.

Martin and Medina parted ways amicably in September 2003. At the time, Medina said he would continue to promote Martin's concerts in Puerto Rico.

According to Medina's office, there are no immediate plans for him to promote Martin in Puerto Rico, although there are "always possibilities" of the two working together.

Martin is currently handled by Benny Medina (no relation).