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
Friday, January 8, 2010
Thursday, January 7, 2010
Megafight off; Pacquiao very mad
Manny Pacquiao was disenchanted and enraged when told that Floyd Mayweather Jr. decided to walk away from their March 13 super fight at the MGM Grand in Las Vegas.
“I am very disappointed that we could not make this fight for the fans and I am angered because of the false accusations from Golden Boy and the Mayweather camp that I used some type of drugs and that is why I have instructed our American lawyers to proceed with the lawsuit to clear my name,” said Pacquiao in a statement released shortly after it was announced that the fight is off.
After Pacquiao’s promoter Top Rank and Mayweather’s representatives – Oscar De La Hoya and Richard Schaefer of Golden Boy Promotions (GBP) – failed to reach an accord during mediation talks on Tuesday, the arbiter, retired federal judge Daniel Weinstein, gave the two sides until the following day to come to an agreement.
But Mayweather simply did not accept a compromise that would have mandated Pacquiao to be tested for blood 24 days before the fight and immediately after the bout.
Bob Arum was furious, declaring that Mayweather “is scared to death of Pacquiao.”
Pacquiao’s adviser Mike Koncz said “the whole blood testing issue that Mayweather wants from Manny is just a façade to get Mayweather out of this fight.”
“I believe that Floyd did not want to tarnish his perfect record and used this blood testing as an excuse to get out of the fight because he knew Manny would never do it. Floyd being the coward found a way out and he did not care if he tarnished another man’s reputation,” added Koncz.
Mayweather had demanded that Pacquiao undergo Olympic-style (random) drug-testing but the Filipino fighter vehemently rejected the proposal and was later incensed that Mayweather and even GBP officials went to the extent of accusing him of having taken performance-enhancing drugs.
Pacquiao has never failed a drug test in all of his close to 20 fights on American soil.
Had both sides agreed on the terms, Pacquiao and Mayweather would have made $25 million apiece plus a hefty share in the pay-per-view, gate receipts, and closed-circuit viewing.
Now that Mayweather is out of the picture, Arum is eyeing reigning World Boxing Association super-welterweight titlist Yuri Foreman, a Belarus-born Israeli now living in Brooklyn, New York.
If Arum picks Foreman for a March 20 date at the Thomas and Mack Center in Las Vegas, Pacquiao will be gunning for his eighth world title.
While a Foreman fight is a landmark bout for Pacquiao, another fight that looks much more attractive is a third fight with Mexican Juan Manuel Marquez, a pairing that Pacquiao trainer Freddie Roach wants.
Source: mb.com.ph
“I am very disappointed that we could not make this fight for the fans and I am angered because of the false accusations from Golden Boy and the Mayweather camp that I used some type of drugs and that is why I have instructed our American lawyers to proceed with the lawsuit to clear my name,” said Pacquiao in a statement released shortly after it was announced that the fight is off.
After Pacquiao’s promoter Top Rank and Mayweather’s representatives – Oscar De La Hoya and Richard Schaefer of Golden Boy Promotions (GBP) – failed to reach an accord during mediation talks on Tuesday, the arbiter, retired federal judge Daniel Weinstein, gave the two sides until the following day to come to an agreement.
But Mayweather simply did not accept a compromise that would have mandated Pacquiao to be tested for blood 24 days before the fight and immediately after the bout.
Bob Arum was furious, declaring that Mayweather “is scared to death of Pacquiao.”
Pacquiao’s adviser Mike Koncz said “the whole blood testing issue that Mayweather wants from Manny is just a façade to get Mayweather out of this fight.”
“I believe that Floyd did not want to tarnish his perfect record and used this blood testing as an excuse to get out of the fight because he knew Manny would never do it. Floyd being the coward found a way out and he did not care if he tarnished another man’s reputation,” added Koncz.
Mayweather had demanded that Pacquiao undergo Olympic-style (random) drug-testing but the Filipino fighter vehemently rejected the proposal and was later incensed that Mayweather and even GBP officials went to the extent of accusing him of having taken performance-enhancing drugs.
Pacquiao has never failed a drug test in all of his close to 20 fights on American soil.
Had both sides agreed on the terms, Pacquiao and Mayweather would have made $25 million apiece plus a hefty share in the pay-per-view, gate receipts, and closed-circuit viewing.
Now that Mayweather is out of the picture, Arum is eyeing reigning World Boxing Association super-welterweight titlist Yuri Foreman, a Belarus-born Israeli now living in Brooklyn, New York.
If Arum picks Foreman for a March 20 date at the Thomas and Mack Center in Las Vegas, Pacquiao will be gunning for his eighth world title.
While a Foreman fight is a landmark bout for Pacquiao, another fight that looks much more attractive is a third fight with Mexican Juan Manuel Marquez, a pairing that Pacquiao trainer Freddie Roach wants.
Source: mb.com.ph
There's no chance for it ever to happen - Arum
The proposed mega-fight between Manny Pacquiao and Floyd Mayweather Jr has apparently been scrapped after the two sides failed to reach an agreement over drug testing for the contest.
The lucrative showdown had been pencilled in for March 13 in what would have been a box office record-breaker, pitting the world's two leading fighters against each other.
However, Pacquiao recently began legal proceedings against the Mayweather camp after they made certain demands about drug testing which the Filipino claims defamed him by insinuating he has been guilty of doping in the past.
A mediator was brought in this week in an attempt to bring the sides together and save the pay-per-view bonanza but agreement could not be reached, with Pacquiao's promoter Bob Arum claiming Mayweather never wanted the fight in the first place.
"I knew this was going to happen," said Arum. "There is no chance ever of salvaging it for March. There's no chance for it ever to happen."
In reality there remains every chance the bout could be resurrected with cynics suggesting the row is simply a publicity drive and typical boxing politics.
With the fight seemingly all but agreed, 'Pretty Boy Floyd' insisted upon random blood tests as well as the usual mandatory urine testing which Pacquiao's side, including trainer Freddie Roach, rejected.
Talks on Tuesday continued into yesterday with hopes of salvaging the fight but such optimism proved shortlived as Arum pronounced the bout dead.
Source: sportinglife.com
The lucrative showdown had been pencilled in for March 13 in what would have been a box office record-breaker, pitting the world's two leading fighters against each other.
However, Pacquiao recently began legal proceedings against the Mayweather camp after they made certain demands about drug testing which the Filipino claims defamed him by insinuating he has been guilty of doping in the past.
A mediator was brought in this week in an attempt to bring the sides together and save the pay-per-view bonanza but agreement could not be reached, with Pacquiao's promoter Bob Arum claiming Mayweather never wanted the fight in the first place.
"I knew this was going to happen," said Arum. "There is no chance ever of salvaging it for March. There's no chance for it ever to happen."
In reality there remains every chance the bout could be resurrected with cynics suggesting the row is simply a publicity drive and typical boxing politics.
With the fight seemingly all but agreed, 'Pretty Boy Floyd' insisted upon random blood tests as well as the usual mandatory urine testing which Pacquiao's side, including trainer Freddie Roach, rejected.
Talks on Tuesday continued into yesterday with hopes of salvaging the fight but such optimism proved shortlived as Arum pronounced the bout dead.
Source: sportinglife.com
Floyd Mayweather's intransigence scraps fight with Manny Pacquiao
Manny Pacquiao's promoters say his prospective bout with Floyd Mayweather Jr has been abandoned after mediation talks failed to resolve differences over drug testing.
The bout, likely to have been for the biggest purse in boxing history, was slated for 13 March at the MGM Grand Garden in Las Vegas, but Top Rank said it could not reach an agreement with Golden Boy Promotions, which represented Mayweather in the negotiations, after nine hours of talks on Tuesday and further discussions yesterday.
Although both sides were prevented from publicly airing the specifics of the dispute, Mayweather apparently balked at a compromise over the stringent drug-testing requirements his camp had insisted upon.
"I knew this was going to happen," said a weary Bob Arum, Pacquiao's promoter. "You had to play it out."
Golden Boy's chief executive, Richard Schaefer, and Mayweather's adviser Leonard Ellerbe did not respond to requests to elaborate.
The promoters went into the lengthy mediation process on Tuesday. Both sides claimed every other detail for the fight had been decided but Mayweather had demanded random blood testing in addition to unlimited urine testing, with Pacquiao unwilling to agree to the stipulation.
The fighters' representatives apparently thought they had a compromise after the mediation and were expected to announce the bout formally yesterday – but subsequent discussions with Mayweather during the day led Top Rank to announce the fight had been cancelled.
Arum was left fuming by Mayweather, who fought under Top Rank promotion for several years. "I've been saying this for years: he's a psychological coward who doesn't want to fight anybody who has a chance of beating him," he said. "He walked away from a rematch with Oscar [De La Hoya] that would have paid him a fortune because De La Hoya held him close in the first fight [in May 2007]."
After stellar pay-per-view numbers from their previous fights, both Pacquiao and Mayweather stood to make more than £16m from the welterweight bout. Mayweather returned to the ring after a 21-month absence in September with a victory over Juan Manuel Márquez, while Pacquiao defeated Miguel Cotto in November for his 13th victory in succession since 2005.
Mayweather initially appeared eager to fight Pacquiao in a bout between two contenders for the title of pound-for-pound champion of the world. Both fighters quickly agreed to the initial points of a deal, with the fight scheduled for March so it would not interfere with Pacquiao's run for political office in the Philippines.
But Schaefer then infuriated Top Rank by refusing to travel to a meeting with the Dallas Cowboys owner, Jerry Jones, who offered to pay lavishly to hold the fight in the NFL team's new stadium. Schaefer's actions, apparently at Mayweather's behest, meant the fight went to the MGM Grand in Mayweather's adopted home town.
After Mayweather went public with his requests for drug testing that went beyond the standards of the Nevada Athletic Commission, Pacquiao filed a lawsuit last week alleging Mayweather and his camp had defamed him by accusing him of using performance-enhancing drugs. That led to the talks, which apparently produced a solution acceptable to everybody except Mayweather, according to Arum.
Arum said there's "no chance ever of salvaging it for March, no chance for it ever to happen".
"No deal was reached and Manny is moving on," the communications expert Fred Sternburg said on behalf of Arum. He plans to propose a mid-March bout with the WBA super-welterweight champion, Yuri Foreman, to Pacquiao, who could become a champion in his eighth weight class.
Source: guardian.co.uk
The bout, likely to have been for the biggest purse in boxing history, was slated for 13 March at the MGM Grand Garden in Las Vegas, but Top Rank said it could not reach an agreement with Golden Boy Promotions, which represented Mayweather in the negotiations, after nine hours of talks on Tuesday and further discussions yesterday.
Although both sides were prevented from publicly airing the specifics of the dispute, Mayweather apparently balked at a compromise over the stringent drug-testing requirements his camp had insisted upon.
"I knew this was going to happen," said a weary Bob Arum, Pacquiao's promoter. "You had to play it out."
Golden Boy's chief executive, Richard Schaefer, and Mayweather's adviser Leonard Ellerbe did not respond to requests to elaborate.
The promoters went into the lengthy mediation process on Tuesday. Both sides claimed every other detail for the fight had been decided but Mayweather had demanded random blood testing in addition to unlimited urine testing, with Pacquiao unwilling to agree to the stipulation.
The fighters' representatives apparently thought they had a compromise after the mediation and were expected to announce the bout formally yesterday – but subsequent discussions with Mayweather during the day led Top Rank to announce the fight had been cancelled.
Arum was left fuming by Mayweather, who fought under Top Rank promotion for several years. "I've been saying this for years: he's a psychological coward who doesn't want to fight anybody who has a chance of beating him," he said. "He walked away from a rematch with Oscar [De La Hoya] that would have paid him a fortune because De La Hoya held him close in the first fight [in May 2007]."
After stellar pay-per-view numbers from their previous fights, both Pacquiao and Mayweather stood to make more than £16m from the welterweight bout. Mayweather returned to the ring after a 21-month absence in September with a victory over Juan Manuel Márquez, while Pacquiao defeated Miguel Cotto in November for his 13th victory in succession since 2005.
Mayweather initially appeared eager to fight Pacquiao in a bout between two contenders for the title of pound-for-pound champion of the world. Both fighters quickly agreed to the initial points of a deal, with the fight scheduled for March so it would not interfere with Pacquiao's run for political office in the Philippines.
But Schaefer then infuriated Top Rank by refusing to travel to a meeting with the Dallas Cowboys owner, Jerry Jones, who offered to pay lavishly to hold the fight in the NFL team's new stadium. Schaefer's actions, apparently at Mayweather's behest, meant the fight went to the MGM Grand in Mayweather's adopted home town.
After Mayweather went public with his requests for drug testing that went beyond the standards of the Nevada Athletic Commission, Pacquiao filed a lawsuit last week alleging Mayweather and his camp had defamed him by accusing him of using performance-enhancing drugs. That led to the talks, which apparently produced a solution acceptable to everybody except Mayweather, according to Arum.
Arum said there's "no chance ever of salvaging it for March, no chance for it ever to happen".
"No deal was reached and Manny is moving on," the communications expert Fred Sternburg said on behalf of Arum. He plans to propose a mid-March bout with the WBA super-welterweight champion, Yuri Foreman, to Pacquiao, who could become a champion in his eighth weight class.
Source: guardian.co.uk
Pacquiao vs Mayweather is off
MANILA, Philippines (UPDATE) -- The much-awaited March 13 fight between World Boxing Organization (WBO) welterweight champion Manny Pacquiao and Floyd Mayweather Jr. is off, ABS-CBN's Dyan Castillejo reported from the US on Thursday.
In an interview over radio dzMM, Castillejo said both sides failed to resolve their differences over random drug testing.
She quoted Pacquiao's promoter, Bob Arum, as saying Pacquiao will still be fighting on March, but it will no longer be against Mayweather.
She said Arum was looking at Israeli Yuri Foreman as Pacquiao's opponent either on March 13 or 20 in Las Vegas.
Castillejo said this would allow Pacquiao to claim an 8th world title. Foreman is the current World Boxing Association (WBA) super welterweight champion.
She said that as a 154-lb. fighter, Foreman would be another heavier opponent for Pacquiao.
Citing her interview with Pacquiao adviser Michael Koncz, Castillejo said the Pacquiao camp had agreed to blood tests 24 days before the fight, not just random blood tests that the Mayweather camp was asking for.
"But still, the Mayweather camp rejected it. Hindi magkasundo so the fight is off," Castillejo said.
Castillejo said Pacquiao is "very disappointed" that fans will not be able to see him fight Mayweather.
However, Castillejo said Arum is "still looking at other possibilities and will decide over the next few days who the next opponent will be for Pacquiao."
‘He didn't want to lose’
Arum said retired federal judge Daniel Weinstein, who acted as mediator between the two parties, rang him to inform that the mega-buck fight won’t push through.
"The mediator called me [before 8 p.m.] and told me the fight was off," Arum told LATimes.com. "The fight's off, Mayweather never wanted it. Manny wanted the fight. He was agreeable to terms."
The promoters earlier wanted Pacquiao and Mayweather to star at news conferences in New York and Los Angeles next week.
However, Mayweather reportedly thumbed down the concessions offered by Pacquiao’s camp, which means that the richest boxing bout in recent history will not push through.
Both boxers stood to receive up to $40 million each in fight revenues had the super bout proceeded.
"I am disappointed in the sense this fight will not happen," Arum said. "I'm not surprised. I always knew Mayweather would kill it because he didn't want it. He didn't want to lose."
Source: abs-cbnnews.com
In an interview over radio dzMM, Castillejo said both sides failed to resolve their differences over random drug testing.
She quoted Pacquiao's promoter, Bob Arum, as saying Pacquiao will still be fighting on March, but it will no longer be against Mayweather.
She said Arum was looking at Israeli Yuri Foreman as Pacquiao's opponent either on March 13 or 20 in Las Vegas.
Castillejo said this would allow Pacquiao to claim an 8th world title. Foreman is the current World Boxing Association (WBA) super welterweight champion.
She said that as a 154-lb. fighter, Foreman would be another heavier opponent for Pacquiao.
Citing her interview with Pacquiao adviser Michael Koncz, Castillejo said the Pacquiao camp had agreed to blood tests 24 days before the fight, not just random blood tests that the Mayweather camp was asking for.
"But still, the Mayweather camp rejected it. Hindi magkasundo so the fight is off," Castillejo said.
Castillejo said Pacquiao is "very disappointed" that fans will not be able to see him fight Mayweather.
However, Castillejo said Arum is "still looking at other possibilities and will decide over the next few days who the next opponent will be for Pacquiao."
‘He didn't want to lose’
Arum said retired federal judge Daniel Weinstein, who acted as mediator between the two parties, rang him to inform that the mega-buck fight won’t push through.
"The mediator called me [before 8 p.m.] and told me the fight was off," Arum told LATimes.com. "The fight's off, Mayweather never wanted it. Manny wanted the fight. He was agreeable to terms."
The promoters earlier wanted Pacquiao and Mayweather to star at news conferences in New York and Los Angeles next week.
However, Mayweather reportedly thumbed down the concessions offered by Pacquiao’s camp, which means that the richest boxing bout in recent history will not push through.
Both boxers stood to receive up to $40 million each in fight revenues had the super bout proceeded.
"I am disappointed in the sense this fight will not happen," Arum said. "I'm not surprised. I always knew Mayweather would kill it because he didn't want it. He didn't want to lose."
Source: abs-cbnnews.com
Tuesday, January 5, 2010
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Manny "Pacman" Pacquiao