by Ronnie Nathanielsz
As reported on Tuesday, eight division world champion Manny Pacquiao signed a contract extension with Top Rank until the end of 2016. Top Rank's CEO Bob Arum, as well as Pacquiao’s adviser Michael Koncz, discussed the deal with BoxingScene.com/Manila Standard.
Koncz told BoxingScene/Manila Standard - “After more than one month of negotiations with Top Rank and also a new player, Cash Money Records founded by Brian Williams aka “Birdman,” who was very pleasant to deal with and had some new refreshing ideas on forming a partnership with Manny and MP Promotions, Manny has decided to continue our partnership with Top Rank.”
Koncz said Pacquiao signed an extension “that will take us to the end of 2016” but added that the terms and financial conditions of the contract are confidential.
The adviser had met with Williams and negotiated the terms of the MP Promotions partnership during his last visit to Los Angeles.
Wikipedia reported that Cash Money Revords Inc was founded by brothers Bryan “Birdman” Williams and Donald “Slim” Williams, who currently act as CEOs. It operates as a subsidiary of Universal Music Group and is distributed by Republic Records and includes artists such as Lil Wayne and Mystikal among others.
Koncz continued - “We are happy. We reviewed both proposals (Top Rank and Williams) last Monday and felt in an overall picture the Top Rank proposal was the best choice” pointing out that Arum “has been good to Manny.”
Arum himself told BoxingScene/The Standard that “we have the rest of this year plus two more years. The minimum we’ll have is five fights.”
He said the contract extension means “we can do some long range planning, it means that we are going to be able to make multi-fight deals with venues like the Venetian so I think its going to enhance everybody’s ability to maximize the amount of money that could be brought in.”
The astute promoter said the deal was significant “particularly now that in November we will be starting off this venture to bring pay-per-view to China and we are really well on our way to instituting it. That could mean a very huge revenue source that could even surpass pay-per-view revenue in the United States.”
“The partnership among Manny, Top Rank, MP Promotions and HBO has been a wonderful one for all parties and for the public and its great that it will continue for the years to come.”
Indications are that Pacquiao will fight until at least the 2016 presidential elections when the incumbent Sarangani province congressman is expected to seek a seat in the Senate.