PENALOSA PURSE BID DEADLINE JANUARY 12
By Ronnie Nathanielsz
PhilBoxing.com
Mon, 29 Dec 2008
The World Boxing Organization has set January 12 as the deadline for submission of the Purse Bid for the mandatory title defense of bantamweight champion Gerry Penalosa against former WBA flyweight champion Erik Morel.
WBO Championship Committee chairman Luis Batista-Salas says the ?minimum acceptable bid? for the bantamweight title is $100,000 and the bidding process will be supervised by WBO president Francisco ?Paco? Valcarcel who is, like Morel, a Puerto Rican.
The purse bid is open to all bona fide promoters recognized by the WBO and registered with the organization.
Under WBO rules the defending champion who is Penalosa will received 75 percent share of the winning bid while Morel will get 25 percent should the title defense be held in the Philippines.
However, if the winning promoter stages the title fight outside the Philippines, Penalosa will be entitled to 80 percent of the winning bid while Morel will be entitled to 20 percent.
www.insidesports.ph, Standard Today and Viva Sports understands that the Morel camp had complained about the failure of Penalosa?s handlers to respond to negotiations which if the two sides had come to terms would not have forced the WBO to call for a purse bid.
However, Penalosa?s reported request for his release from Golden Boy Promotions had apparently upset GBP CEO Richard Schaefer who expressed willingness to release him but only at a price since Golden Boy had secure two world title fights for Penalosa against WBO super bantamweight champion Daniel Ponce De Leon and bantamweight champion Jhonny Gonzalez from whom the veteran Filipino won the title in Augist 2007 with a sensational one-punch knockout in the seventh round.
Because of Penalosa?s release request Golden Boy Promotions reportedly cooled off on the negotiations with Morel?s camp.
Boxing correspondent Lee Bates reported on Fight News recently that according to the Morel camp ?the champion?s team has not been very cooperative in putting the fight together? claiming that they had ?made several attempts to contact Penalosa?s team without any success.
Bates quoted Morel?s people as saying ?It really shouldn?t even come down to this as we?ve been very professional about the negotiations and have made a fair offer. We only want Penalosa to do the right thing and honor his mandatory title defense against Morel.?
Penalosa has never backed off from his obligation for a mandatory title defense but had been hoping to get approval for a tune-up fight in January or early February which, it appears, the WBO won?t approve.
Penalosa?s last fight was his first title defense against Thailand?s former world champion Ratanachai Sor Vorapin which he won by an 8th round TKO on April 6 , 2008.
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