SALUD: DE LA HOYA DEAL IS NOT YET LOST
By Dong Secuya
PhilBoxing.com
Thu, 14 Aug 2008
Cebu City -- Team Pacquiao member and close Pacquiao associate Rex 'Wakee' Salud told PhilBoxing.com that the De La Hoya-Pacquiao deal is not yet lost after Manny Pacquiao had issued a statement through lawyer Jeng Gacal that he was 'moving on' after their counter offer on the revenue sharing of the said fight had been rejected by the De La Hoya camp.
"I will talk to Manny and see what I can do," Said Salud who will meet Pacquiao in Manila tomorrow during a golf tournament. "This a once in a lifetime opportunity for Manny and you don't dismiss that kind of opportunity just like that."
The widely and hotly discussed De La Hoya-Pacquiao fight was in the final stages of negotiation where both camps, De La Hoya's Golden Boy Promotions and Bob Arum's Top Rank, have already hurdled two major issues of the proposed fight, the gloves to wear and weight limit, but were stalled on the revenue sharing of the fight wherein De La Hoya offered a 70-30 split in his favor but Pacquiao countered with a 60-40 sharing.
The megafight pitting America's most popular boxer who is about to retire and the current pound-for-pound king of the planet is projected to earn more than a $100 million dollars in PPV sales.
"I have been informed that Oscar De La Hoya is firm with the 70-30 revenue sharing and won't budge in to the 60-40 split we have counter-offered... the option left is to move on," Pacquiao said in a statement released today.
"Pacquiao has an adviser and lawyer, [Franklin "Jeng" Gacal] who basically is caught up in percentages. But if you go buy a car or a house or food do you pay in percentages or in money? The answer is you pay in currency not in percentages. I hope this has properly been explained to Manny," Schaefer told ESPN's Dan Rafael.
Even with the 70-30 revenue sharing, Pacquiao is projected to earn at least $15 - $20 million dollars out of this fight, four to five times more than his usual take of $3 to $5 million from his recent fights.
"Manny needs to fight three or four times in order to earn what he is projected to earn from the De La Hoya fight," Salud said. "So you need to think twice before missing that opportunity. Also money is not our only consideration here because we know that Pacquiao has a genuine chance of beating De La Hoya... and when that happens, that will be a great historical feat."
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