Golden Boy Promotions in jeopardy of losing percentage of Pacquiao's fight earnings

It is perhaps one of the worst deals in boxing. I'm talking about Oscar De La Hoya's Golden Boy Promotions and their hand inside Manny Pacquiao's pocket as a result of the arbitration a couple of years ago to settle the contractual mess Pacquiao got himself into when he signed promotional contracts with both Top Rank and Golden Boy.
Yes, each time Manny Pacquiao fights, Golden Boy Promotions has a cut on his earnings. So when Oscar De La Hoya was trying to knock his head off, Pacquiao actually had to pay him for his efforts. Fortunately for him, it was a one-sided beating to his favor.

"There's an arbitration which calls for them to lose any percentage of Manny's promotional contract, something we asked for and had postponed, but now it will go forward," Pacquiao's promoter Bob Arum said on ESPN.com.

In an article by ABS-CBN, Arum also added , "We did that two weeks ago before Manny filed his lawsuit. It's binding arbitration. Our request was for Golden Boy to forfeit its interest in Pacquiao's contract based on the fact that they had demeaned Pacquiao with their remarks [alleging he used PEDs] and that it violated the [2007] agreement between Pacquiao, Top Rank and Golden Boy," Arum said.

It's about damn time. Honestly, my take on it is that Golden Boy is shameless and cheap for taking money from a fighter and yet they repeatedly have stabbed him in his back, side, front and wherever else they can find. They have made enough money from Pacquiao without lifting a finger and as much as I do think the Pac Man is definitely accountable for his actions when he signed those contracts, all I can say is that he was naive then and a suitcase full of money is something that will easily sway anyone to sign on any dotted line. Heck, if GBP knocked on my door tonight and offered me a mil to stop writing about Pacquiao, I'd definitely take it. But just like Pacquiao, I'll still keep writing about Pacquiao after spending the money. What I'm trying to say is, Pacquiao has already payed his dues to GBP, and if all they do is discredit, dishonor and ridicule him, they shouldn't be taking his money along the way while doing it. That's some unheard of shizz if you ask me.

Source: examiner.com