ARUM UPS MAYWEATHER OFFER TO PACQUIAO
By Ronnie Nathanielsz
PhilBoxing.com
Sat, 28 Jan 2012
Top Rank promoter Bob Arum has upped the ante following Floyd Mayweather's offer to pound for pound king Manny Pacquiao of a guaranteed $40 million purse with Mayweather retaining all the pay per view income.
Should a Pacquiao-Mayweather fight eventually happen it is expected to bring in an additional revenue of around $150 million.
Mayweather made the counter-offer after Pacquiao told him during a telephone conversation when Mayweather called Pacquiao's adviser Michael Koncz, that he believed a 50-50 split was fair and reasonable.
Arum reacted to the Mayweather offer and told the Manila Standard "I am offering Mayweather $45 million" under the same terms he offered Pacquiao.
Arum also clarified the situation with regard to Pacquiao's purse in several of his Las Vegas fights which were published by John Chavez on the internet site boxingtruth.com and picked up by other writers.
He said under the rules of the Nevada State Athletic Commission the fighters need to be paid on the night of a fight.
To meet this requirement Arum paid the NSAC $6 million for Pacquiao in his last fight against Juan Manuel Marquez which the Commission paid to Pacquiao after the fight and which could be cashed the next day.
Arum indicated this was in order to comply with the requirements even as he pointed out that "in the long form contract" a copy of which is given the Internal Revenue Service, Pacquiao's guarantee for the Marquez fight was $22 million which was paid in full within 10 days even though the contract stipulated it could be paid within two months.
The Top Rank promoter said that with the pay per view income which up to now hasn't all come in, Pacquiao will earn an additional $5 million above his guaranteed purse for a total income of $30 million.
Arum described all these reports as "nonsense" and pointed out "we give the IRS tax people a copy of the real contract and we
don't avoid paying the proper taxes."
Click here to view a list of other articles written by Ronnie Nathanielsz.
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