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Golden Boy Sends Donaire-Mares Contract For $3 Million

by Rick Reeno

Golden Boy Promotions CEO Richard Schaefer has advised BoxingScene.com that a contract offering $3 million dollars for the services of Nonito Donaire (31-1, 20KOs) has been issued to Top Rank's legal counsel David Moroso, a senior attorney with the Los Angeles-based O'Melveny and Myers.

Two days ago, Schaefer created a wave of headlines when he exclusively advised BoxingScene that he was willing to offer Top Rank a sum of $3 million dollars to secure Donaire for a mega-super bantamweight unification with Abner Mares (25-0, 13KOs), who Golden Boy promotes.

Schaefer also confirmed that his offer, which was issued on Friday afternoon, does not bind Donaire to Golden Boy in any fashion. Basically, there are "no options" on Donaire.

There have been ongoing discussions between Top Rank's CEO Bob Arum, and Mares' manager Frank Espinoza, but Schaefer wasn't happy with the financial offers being presented for the services of Mares.

Arum wants to do the fight, but he doesn't want to take part in a straight co-promotion with Golden Boy.

"I think both fighters, Abner Mares and Nonito Donaire, deserve to make the most money in this fight. And I am willing to put up an offer, to Bob Arum, to provide the services of Nonito Donaire. I am willing to offer them $3 million dollars. I will pay Top Rank $3 million dollars, and I don't know what kind of deal they have with Donaire...probably a 50-50, so [Arum] can pay Donaire $1.5 million and he can make $1.5 million, but I don't care how they split up the $3 million," Schaefer told BoxingScene.com.

There were concerns by Arum that Schaefer was bluffing with his offer and wouldn't bind his company with a written confirmation regarding the $3 million dollars for Donaire's services. However, Schaefer says he did his part in attempting to make the fight happen and says there are "no excuses" that his offer wasn't received in writing.

User Comments and Feedback (Register For Free To Comment) Comment by Zyzz on 01-26-2013

[QUOTE=I'm so sorry;12957997]Didn't Dan Rafael say Golden Boy sent the contract to Donaire's manager instead of his promoter, which is a huge no-no? And then Donaire's manager claims to not have received anything either. Something's going on.[/QUOTE] Nothings is going…

Comment by ShoulderRoll on 01-26-2013

[QUOTE=littlemac;12957654]Arum just twitted about them needing to build a new stadium for the fight.[/QUOTE] :lol1: [COLOR="White"]Oh man.[/COLOR]

Comment by thuggery on 01-26-2013

[QUOTE=big_james10;12958055]The biggest problem with your statement is that you believe what Dan Rafael says. Dan Rafael writes whatever Bob Arum tells him to print and this is what Bob Arum told him to write.[/QUOTE] Which is completely untrue because last…

Comment by big_james10 on 01-26-2013

[QUOTE=I'm so sorry;12957997]Didn't Dan Rafael say Golden Boy sent the contract to Donaire's manager instead of his promoter, which is a huge no-no? And then Donaire's manager claims to not have received anything either. Something's going on.[/QUOTE] The biggest problem…

Comment by big_james10 on 01-26-2013

[QUOTE=parrish duke;12955510]Like Donaire has any say in this? So if Top Stank declines the offer - nitwits on here say this is a duck? Donaire does not decide who he fights - there are only a hand full of fighters…

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