PACQUIAO-DELA HOYA STALLED ON REVENUE SPLIT
By Ronnie Nathanielsz
PhilBoxing.com
Fri, 08 Aug 2008
The lawyer of Filipino boxing icon Manny Pacquiao says the initial round of talks between Top Rank promoter Bob Arum and Golden Boy Promotions CEO Richard Schaefer went well but stalled on the issue of revenue sharing.
In a telephone conversation with www.insidesports.ph, Atty. Franklin ?Jeng? Gacal said they couldn?t agree on the revenue sharing laid out in the counter-proposal forwarded by Team Pacquiao in response to an initial proposal from Golden Boy Promotions.
Gacal said he believes that their counter-offer was ?very fair? because they recognized that De La Hoya was the superstar. However, Gacal revealed that Schaefer said he couldn?t decide on the question and would have to get back and consult De La Hoya.
Previous reports suggested that Golden Boy was offering Pacquiao a guaranteed purse of $20 million but that Team Pacquiao also wanted a share of the pay-per-view and other ancillary rights. Gacal said they were not asking for a 50-50 split but the word was out that Golden Boy wanted it to be at least 60-40 in his favor.
De La Hoya himself in an exclusive interview with www.insidesports.ph, Viva Sports and Manila Standard Today said last week that ?we can come out with a formula where Manny can make the most money he will ever make. Manny can make two or three or even four or five times what he?s been making. So I feel that Bob Arum and Richard Schaefer can realistically make this fight happen.?
Gacal at the same time said there were no problems regarding the suggested weight of 147 pounds as De La Hoya himself told us he would have no problem making the 147 pound limit and normally adds on a mere four to five pounds between the official weigh-in and fight night.
Gacal also disclosed that aside from the challenge of reaching an agreement on the sharing of revenues they would also have to tackle the ?ticklish issue? of Philippine television rights.
Gacal noted that Golden Boy Promotions has a tie-up with the giant broadcast network ABS-CBN while Pacquiao has an agreement with Solar Sports.
Should Golden Boy Promotions insist on being the lead promoter which appears to have been conceded by Team Pacquiao, then De La Hoya will decide on who gets the TV rights. De La Hoya himself told us ?as far as I know, ABS-CBN is by far the biggest and the best when it comes to covering fights and December 6 is my date I choose where the fight gets covered and whoever brings the better deal to the table then they are the ones who get it and from what I have seen in the past ABS-CBN has been the best at bringing the best fights to the Philippines.?
The date for the fight which is owned by De La Hoya and HBO is December 6 and the venue the MGM Grand in Las Vegas.
Gacal said that while Schaefer talks to De La Hoya, Arum plans to discuss the issue of the revenue split with Pacquiao who was scheduled to leave for the opening ceremonies of the Beijing Olympic Games on Friday along with the delegation of President Arroyo. Pacquiao will be the flag-bearer of the Philippine delegation to the Games.
The Pacquiao lawyer had earlier shown some apprehension stating ?I don?t know whether this fight will happen? but both Schaefer and Arum believe they can get it done. In fact Schaefer was quoted by Dan Rafael of ESPN.com as saying ?we had a very good, a very cordial meeting.?
Arum himself told Dan Rafael of ESPN.com ?we want to make a deal, Richard and I. Whether it can be made or not, I don?t know. It will take give-and-take on both sides.?
The two sides are scheduled to meet next Monday in Los Angeles with Arum saying earlier he expected an agreement to be reached by August 13 which would be two days before the official Las Vegas press conference announcing the Kelly Pavlik-Bernard Hopkins showdown.
Click here to view a list of other articles written by Ronnie Nathanielsz.
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