PACQUIAO PICKS ARUM OVER DE LA HOYA
By Ronnie Nathanielsz
PhilBoxing.com
Thu, 28 Dec 2006
Filipino ring idol Manny Pacquiao has taken a defining step in his blooming ring career by picking the astute Bob Arum and his Top Rank Promotions over Oscar De La Hoya and his Golden Boy Promotions who are locked in a bitter struggle for the
promotional rights to the Philippines’ national treasure.
At a well attended news conference at the Manila Hotel with Arum seated by his side, Pacquiao said “we are here to announce that my new promoter is Top Rank” after which Arum took over saying “we promise you and all the Filipino people that what we are going to do for Manny is going to be something special … make him a worldwide superstar.”
Arum said the first order of order of business was to formally offer WBC super featherweight champion Marco Antonio Barrera and his promoter Golden Boy “a very good, lucrative contract to fight Manny in Las Vegas in April.” Arum said that he would offer Barrera $2.5 million guarantee plus a percentage of the pay-per-view revenues after a particular point,” which is likely to be the amount after deduction of the two fighters purses and other marketing and promotional expenses.
Arum said that “there is a possibility that Barrera will not accept or Golden Boy will not allow him” in which case he has lined up several other opponents for Pacquiao to choose from for a fight scheduled at the plush Wynn Hotel & Casino in Macau on April 28. Arum stressed that he had demonstrated to Pacquiao that whether it is Barrera or another opponent in Macau he will make as “much money or more as fighting Barrera.”
Arum said the case filed by Golden Boy for tortuous interference with the seven-fight contract Pacquiao signed in mid-September was a case “for money damages” and that he had retained one of the biggest lawyers in the US, Daniel Petrocelli, who reportedly “looked over the situation and told us that we have an absolute winner.” However Arum disclosed that in the event they lost the case, Pacquiao is protected. He said Pacquiao was “indemnified under the original contract with Top Rank for any damages so he has no financial risk.”
The Top Rank promoter said the arrangement he would make with De La Hoya is that he “can continue his lawsuit, we will do the fight and will do it without prejudice so that if he then succeeded in court he could get whatever share he lost. So it’s a no-lose situation for him (De La Hoya) too.”
Arum downplayed the possibility of a Barrera-Juan Manuel Marquez fight stressing “that’s not a money fight.” Arum claimed Marquez whom he handled before is “the one guy Barrera would not fight” and if he doesn’t fight Marquez he would have to fight Omar Soto. Arum added Barrera will “chop off his arm before he fought Soto because Soto will knock him out and its not a big money fight. That’s what Golden Boy has to take into consideration.”
Pacquiao also indicated that he would not renew the contract of the management team headed by Shelly Finkel which was scheduled to run out on January 31. However, Arum claimed that Finkel and Pacquiao signed a mutual waiver before the Grand Finale against Erik “El Terrible” Morales last November 18 after Finkel was assured he would get 20 percent of Pacquiao’s purse of $3 million. Arum said Finkel’s contract ended last August.
Pacquiao said he had informed trainer Freddie Roach about his decision and that Roach told him he would respect his decision. Roach said he had told Pacquiao when he was here for his birthday last December 17 that Pacquiao admitted he had made a mistake by signing the Arum contract and Roach asked him to correct it. Obviously he didn’t.
In a blistering attack on Michael Koncz whom he accused of being paid by Arum and the one who influenced Pacquiao, the celebrated coach branded him a “leech and a degenerate” who was “bankrupt.”
Click here to view a list of other articles written by Ronnie Nathanielsz.
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