ABU DHABI 'VERY POSITIVE' ON PACQUIAO-MARGARITO TITLE FIGHT
By Ronnie Nathanielsz
PhilBoxing.com
Wed, 21 Jul 2010
By all accounts the Royal Family of the United Arab Emirates is very keen on hosting a battle for the vacant WBC light middleweight title between pound-for-pound king and ?Fighter of the Decade? Manny Pacquiao and former world champion Antonio Margarito who is currently rated No. 1 by both the WBC and the WBA, in Abu Dhabi.
Insidesports.ph, Standard Today and Viva Sports has learned that a Memorandum of Understanding had been sent to the individuals who represented the Emirati Royal Family in a meeting with Top Rank promoter Bob Arum and Pacquiao?s adviser Michael Koncz last week.
Koncz had earlier told us that ?they are very positive about it,? but made it clear that no decision has been made as yet since its Pacquiao who has to sign-off on any agreement.
The proposal is a total package which would allow the Abu Dhabi Group to handle the pay-per-view as well as the venue and similar sponsorship deals with all the revenues going to the hosts. Arum himself told Lem Satterfield of boxingscene.com that the advantage in fighting in Abu Dhabi ?is the money. It's assured money. They (Abu Dhabi) would take the risk on the pay-per-view.?
The other major plus for Pacquiao is that the income generated from his purse, PPV share and other ancillary rights would not be taxable since, as Arum has pointed out, it is not income earned from a fight in the US.
Meantime, the top executive of a well-known promotional company in the U.A.E informed us that the Abu Dhabi group is expected to offer a substantial deposit by the end of July as a sign of their commitment to stage the fight in the oil-rich Middle East emirate in November.
However, Monterey has also made a solid offer to stage a Pacquiao-Margarito title fight. Koncz said he would fly to Monterey with Arum and together with well-known Mexican promoter Fernando Beltran ?will check out Monterey.?
WBC secretary general Mauricio Sulaiman told us earlier Wednesday (Manila Time) that he had heard about the offer to stage a Pacquiao-Margarito fight in Monterey which he said was ?recently hit by a tornado and they need lots of help so a huge fight like this would be great.?
Koncz said he was with Beltran all day long in Tijuana, Tuesday and the promoter indicated he ?doesn?t have a problem if the Margarito fight goes to Abu Dhabi.? Koncz disclosed that he had discussed the possibility of a Pacquiao rematch with WBO light middleweight champion Miguel Cotto who is also considered an option for Pacquiao?s next fight in a recent meeting in Puerto Rico and said ?Cotto had no problem going there (Abu Dhabi).?
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