Pacman-Floyd purse split 'done in 5 minutes'

MANILA – It's all systems go for the blockbuster fight between Manny Pacquiao and Floyd Mayweather, Jr., much to the surprise of fight fans who were expecting grueling negotiations between the fighters' camps on the revenue split.

Top Rank Promotions head honcho Bob Arum revealed that he and Mayweather’s representative, Golden Boy Promotions CEO Richard Schaefer, found a way to swiftly agree on money matters.

"I told Richard Schaefer, ‘If you want me to spend 2 hours saying why Manny deserves more than 50% then you'll spend 3 hours telling me why Mayweather is entitled to more than 50%... So let’s save a lot of time '” he told ABS-CBN News.

“You know whatever you say, whatever I say, it’s gonna end up 50-50. Let’s agree on that… So it was done in 5 minutes," added Arum, who arrived in Manila on Thursday to seal the deal with Pacquiao.

The pound-for-pound king said yes to the bout after holding a meeting with Arum and Canadian adviser Mike Koncz in Manila on Friday. Mayweather, according to an ESPN.com report, earlier agreed to fight the Filipino boxing sensation.

Pacquiao could earn $25 million to $45 million (around P1 billion to P2 billion) for the Mayweather fight.

Arum, meantime, left Manila on Sunday to resume his talks with Schaefer on Tuesday (Monday in the US).

Schaefer and Arum began formal negotiations on November 23 in the US, a little over a week after Pacquiao defeated Puerto Rican Miguel Cotto via a 12th round technical knockout on November 14 in Las Vegas.

"Abangan nila yung fight namin ni Mayweather. May konting inaayos na lang at mukhang matutuloy na at sa tingin ko, maganda ito,” said Pacquiao, assuring that his right ear, which was injured in his fight against Cotto, is okay.

The bout is expected to break the pay-per-view record of 2.44 million buys held by Mayweather and former fighter Oscar de la Hoya. Mayweather, the current No. 2 pound-for-pound fighter, won over de la Hoya by split decision in 2007.

Verbal agreement

It was announced that a press conference is planned to take place on January 11 in the US. The world’s top pound-for-pound fighters, however, have yet to ink a contract.

"There’s no need to sign it right away. When Bob [Arum] and Manny agreed to do the fight, that’s it. There’s already an agreement verbally and that’s all that’s needed for now," Koncz told The Philippine Star.

"That’s how we do it. Manny has never backed out of any agreement," he stated. "And that’s the same with [Golden Boy Promotions CEO] Richard Schaefer who said there’s no problem at all. There are just some minor things left to be settled."

One of those "minor things" is where the bout will be held.

Arum and Schaefer will reportedly visit Dallas Cowboys owner Jerry Jones, who expressed interest in holding the Pacquiao-Mayweather mega fight at the Cowboys Stadium in Texas. The Super Dome in New Orleans is another option.

But Las Vegas is said to be the frontrunner, according to Arum. The last fights of Pacquiao and Mayweather against Miguel Cotto and Juan Manuel Marquez, respectively, were held at the MGM Grand Garden Arena.

Mecca of boxing

According to veteran boxing writer Michael Marley, the "Fight Capital of the World" should be the venue because it has "always supported boxing through good times and bad."

"I know there isn’t any loyalty in boxing because it’s all about the money and I know there isn’t any loyalty in the casino business either but there is an expression in gambling that you stick with the winner. Boxing owes something to Las Vegas," he said in an Examiner.com article.

Marley added that New Orleans is “still hurting from Hurricane Katrina” while Dallas would have been a good venue if there was a Mexican headliner.

He went on to say that the city needs to hold the super fight given its financial situation.

"Vegas is still on the ropes and Vegas needs this fight. The city of Dallas is going to roll on with or without the fight. Las Vegas needs it and the MGM Grand, the same company that owns the Mirage and the MGM and Mandalay Bay, I think they are going to clamp down and I don’t think they are going to let this fight of the century out their grasp."

The Las Vegas Convention and Visitors Authority (LVCVA) disclosed to the ABS-CBN North America News Bureau that “Sin City” earned $10.7 million in May due to the fight between Pacquiao and Briton Ricky Hatton.

Economics of the fight

Koncz earlier told abs-cbnNEWS.com that Team Pacquiao has had “open line communications” with Mayweather’s camp over the last year. But he made it clear that they will not chase the undefeated American fighter.

"Of course we wanna do Mayweather… But we won’t be railroaded and pushed around, bullied around," he said in October. "I think the economics of the fight has to be right for us to agree."

Koncz also echoed what Pacquiao’s coach, Freddie Roach, fight fans and critics have already proclaimed—the fight will be great for the sport and the fans.

Source: abs-cbnnews.com