BREAKING NEWS: ARUM RESPONDS POSITIVELY TO GOLDEN BOY OFFER FOR A 50-50 DEAL FOR PACQUIAO-BARRERA
By Ronnie Nathanielsz
PhilBoxing.com
Fri, 29 Dec 2006
Golden Boy Promotions Chief Operating Officer Richard Schaefer says they would be willing to make the eagerly awaited rematch between Filipino ring idol Manny Pacquiao and WBC super featherweight champion Marco Antonio Barrera happen. However, Schaefer stressed it would have to be staged under a 50-50 deal.
Top Rank?s Bob Arum responded positively to the offer in a telephone conversation with Viva Sports/Manila Standard Today saying ?the one thing that I detect having been in this business so long is that I will give them our offer and they, by telling you that, have expressed the willingness to start negotiating and I think that?s good for everybody. This is a good, favorable sign.? Arum indicated that by making an initial offer he was able to get the negotiations moving forward which was his ?entire purpose.?
The offer made public by Arum at a news conference Thursday was that Top Rank would pay Barrera $2.5 million and a percentage of the pay-per-view income beyond a certain point, to fight Pacquiao in Las Vegas in April. Schaefer said he was surprised by Arum?s actions because ?he doesn?t have options on either Barrera or Pacquiao.? He said Golden Boy who handles Barrera is also confident that the seven fight promotional deal signed with Pacquiao in mid-September will be upheld by the courts.
However, Schaefer indicated that Golden Boy didn?t wish to stand in the way of the fight happening because both boxers as well as the public wanted it. In his counter-offer Schaefer said that in case the 50-50 deal is accepted, Golden Boy would agree to have the promotional profits due to the Pacquiao side in an escrow account until the courts decide on who holds the promotional rights to Pacquiao, Golden Boy or Top Rank.
The Golden Boy CEO said their offer was ?substantially better? than if the fight went to a purse bid which the WBC had suspended until they clarify the legal issues involved, Golden Boy would insist on the standard 75-25 split with the champion, Barrera, getting the lion?s share. Schaefer said they not only have a March 17 date and the MGM Grand as the venue they also have the pay-per-view which he believes is ?substantially better ? than staging the fight on April 28 as suggested by Arum since it would be one week before the May 5 blockbuster showdown between Oscar De La Hoya and Floyd Mayweather.
While Arum was talking about possible negotiations his top-notch defense attorney Daniel Petrocelli who had been hired to handle the lawsuit for tortuous interference filed by Golden Boy against Top Rank informed Viva Sports/Manila Standard Today that Top Rank ?has a very strong case against Golden Boy, so strong that it just filed suit in the Los Angeles federal court against Golden Boy for interfering with Top Rank?s rights.?
Petrocelli first gained prominence when he represented the father of murder victim Ron Goldman in a wrongful death civil suit against O.J, Simpson. Petrocelli successfully argued the case in spite of Simpson?s acquittal in the earlier case when he was accused of murdering his wife and a jury awarded the Goldman family $8.5 million in damages.
The head of Pacquiao?s management team Shelly Finkel, in an overseas telephone conversation with Viva Sports/Manila Standard Today said both Arum and Pacquiao were ?totally incorrect? in their claims that his management contract had expired last August and added ?time will show that.? Finklel said Golden Boy?s 50-50 deal was ?a very good offer? even as he insisted ?I care about Manny and feel sorry for him. He does not understand but I wish him all the best. What else can I do?.? Finkel at the same time condemned agent Michael Koncz as ?a horrible person who has nothing and will even sleep on the floor of Manny?s room to get what he wants.?
Koncz on the other hand said ?I don?t care about anybody else. All I care about is what?s best for Manny? even as he took issue with the statements by celebrated trainer Freddie Roach who described Koncz as a ?leech and a degenerate? and accused him of being in Arum?s pocket.
In fairness to Koncz who was suspected of skimming off the purses of Filipino boxers including Bobby Pacquiao whose purse for the Kevin Kelley fight last June was reportedly over $100,000, the Executive Deputy Commissioner and General Counsel of the New York State Athletic Commission Hugo Spindola informed Viva Sports/Manila Standard Today ?a review of the contracts indicates that Mr. Pacquiao?s purse for that event was $60,500 and the contract was signed by him and his manager Michael Koncz.?
Click here to view a list of other articles written by Ronnie Nathanielsz.
Recent PhilBoxing.com In-House articles:
Smarts over power
By Joaquin Henson, Tue, 16 Sep 2025HALL OF FAME FLIES FLAGS AT HALF-STAFF FOR TWO-DIVISION CHAMPION RICKY HATTON
Tue, 16 Sep 2025Kazakhstan tops the medal table at the inaugural World Boxing Championships 2025 thanks to victory in the final bout of the competition
Tue, 16 Sep 2025THRILLA IN MANILA GOLDEN ANNIVERSARY 13: JOE FRAZIER’S HUMBLE BEGINNINGS AS AN AMATEUR FIGHTER
By Maloney L. Samaco, Mon, 15 Sep 2025A New King, A New Challenger: Turki Alalshikh Proposes Crawford-Benavidez While Canelo Alvarez Faces Defeat with Humility
By Dong Secuya, Mon, 15 Sep 2025Highly Questionable Title Eliminator
By Teodoro Medina Reynoso, Mon, 15 Sep 2025Yoseline Perez Earns Silver Medal at Inaugural World Boxing Championships
Mon, 15 Sep 202521-year-old Filipino wins at Germany rapid chess tournament
By Marlon Bernardino, Mon, 15 Sep 2025Nagoya Nightmare: Naoya Inoue Notches One-Sided Decision over Murodjon Akhmadaliev
Mon, 15 Sep 2025Inoue’s Philippine Connection: Which Pinoy Super Bantamweight Could Challenge “The Monster?”
By Carlos Costa, Mon, 15 Sep 2025Yoseline Perez Advances to the Finals at the World Boxing Championships Perez Set to Face Chinese Taipei’s Hsiao-Wen Huang for 54-Kilogram World Title
Mon, 15 Sep 2025Canelo Gets Outboxed, Loses Undisputed Title to Crawford
By Carlos Costa, Sun, 14 Sep 2025A Masterpiece of Boxing: Terence Crawford Dethrones Canelo Alvarez in Historic Showdown
By Dong Secuya, Sun, 14 Sep 2025LEWIS CROCKER IS CROWNED THE NEW IBF WORLD WELTERWEIGHT CHAMPION
Sun, 14 Sep 2025Battle of Undefeated: Callum Walsh Vanquishes Fernando Vargas Jr.
By Dong Secuya, Sun, 14 Sep 2025