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Golden Boy gave Manny the better deal, but Pac was easily pushed by Arum and Koncz (who wasn't his advisor at the time) to choose Top Rank. He loses more money giving both promoters percentages than he does with bonuses.
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Here's an article about Shelly Finkel talking about what happened during the fiasco: http://www.15rounds.com/shelly-finke...nered-manager/Comment
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My understanding of the matter at the time it occurred, was, that Manny P was shortly supposed to resign with Arum, it had been all arranged and thery were both very happy about it. Then Manny landed in the States, after a very long
(It was reported to be 16 hours) trip, and was unexpectedly met by Oscar, who dragged him off to dinner. He wined and dined him and talked to him about signing with him. Manny resisted, saying he was going to re-sign with Arum, and that his present contract stipulated that he could not sign with ANYONE without Arum's permission.
Oscar presented him with a cheque (some reports said a bundle of cash) for, I think $250,000 (I'm a bit hazy on the amount) and eventually Manny said OK and signed. he afterwards said that he couldn't get away from Oscar otherwise and he was dead tired. I think that Nazario was actually with him, and chipping into the conversation from time to time.
Manny reported it to Arum, and there was "murder". On top of the bad blood already between Oscar and Arum, this was another layer of tzoras.
There were a few heavy threats and court proceedings were instituted by Oscar, and, I think, also by Arum for "alienation" (I believe). Eventually to avoid multimillion dollar lawsuits and heavy expenses they came to the agreement that Manny belonged with Top Rank, but that if Manny would be fighting a Golden Boy opponent, that Oscar would be cut in for a small percentage of the promotion. (I suppose depending on whom he was fighting)
Now folks, I`m a little hazy as to some details, but I am fairly sure that Oscar does NOT own any part of Manny P. It was all reported at the time, and although I have an excellent memory, it`s not 100% perfect, so I can be corrected on a few of my above assertions.......but, please quote sources.Comment
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Seven fights? I'm not sure. Someone correct me on this.Originally posted by larryx2010 View PostComment
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You still talking ****? lol.Originally posted by Max05 View Post
Just shut up.
He got paid by Arum and returned the signing bonus check to GBP. GBP sued him for breach of contract in court and won. GBP make millions of every Pac fight.Comment
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I don't know how long but Golden Boy always gets a percentage from Top Rank not Manny himself. That's why Arum is still pissed off at Oscar. I remember an article on Arum being all pissy that he had to pay Golden Boy around $2-$3 million from the Pac/Cotto fight.Originally posted by larryx2010 View PostComment
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Manny signed with GBP for 7 fights and got a large sum payment for his bonus. Arum made him an offer after he signed with GBP and Manny signed the contract when he was already under contract with GBP.Originally posted by larryx2010 View Post
Top Rank and GBP both filed lawsuit and they agreed Manny would stay with Top Rank, but Manny has to give GBP 5% of every fight to Oscar.
Now he has to pay Arum 27%, DLH 5%, Roach 10%, etc.
Arum is not giving Oscar millions from his own promoter revenue... you better believe he's taking it out of Pac's purse.Comment
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