By Frank Warren

THERE is money to be made as a promoter - but you need to invest, too!

Amir Khan's team are finding that out as the harsher realities of promotion begin to kick in.

He's got a pay-per-view date with Sky pencilled in for April 16.

But despite offering Paul McCloskey and Lamont Peterson a shot at his WBA light-welterweight title, they say the money has not been good enough to tempt them.

McCloskey's promoter Barry Hearn described the offer made to the European champ as "a joke" while Peterson may be out of the running as well.

Khan is fast running out of options. Yet he needs a big-name opponent if he's to make the card viable as a PPV event.

Another problem for Team Khan is that he's got no potential classics for the undercard and he'll need to beef that up.

That was one of the reasons the public felt let down by David Haye's farcical clash with Audley Harrison.

Khan complains he's being treated by his fellow pros as a "cash cow" - I know the feeling.

When I brought Kostya Tsyzu to fight Ricky Hatton, his total package was £4.4million. But the investment helped turn Hatton into a major star.

One boxer who does seem keen to fight Amir is Breidis Prescott. The Colombian knocked him out in less than a minute but a rematch doesn't mean anything, though. Prescott has been exposed since by Kevin Mitchell.

Also, Khan has switched trainers, gone up a weight and is now a far better fighter than the naive youngster who got sloppy.

Amir and his team might just have to swallow their pride and dig a little deeper into their pockets.

After all, that's what I did when I got lumped with New Yorker Dimitry Salita as Khan's mandatory challenger.

Paying him big money was a pain in the a*** but, although I didn't like it, I just had to lump it.

TONY BELLEW will kick off the year for Frank Warren Promotions with a rematch against Ovill McKenzie at York Hall.

The British and Commonwealth light-heavyweight titles will be on the line.

The undercard features Frankie Gavin. I'm expecting a big year from Britain's only amateur world champ.

RUSLAN CHAGAEV'S health problems could KO his fight with David Haye.

That might leave the door open to Russia's Alexander Povetkin. I tried to sign him when he turned pro and, although he's not a glamour name, he would be a good fight for Haye.

BOB ARUM and Don King show no signs of slowing up. The veteran promoters have teamed up for a March PPV show with Miguel Cotto and Ricardo Mayorga.

MANNY PACQUIAO says he might retire after another six fights. I cannot see him lasting beyond 2011.

NO ONE knows if Floyd Mayweather is better than Manny Pacquiao because they won't fight.

But Mayweather tops the ratings war with 1.4m PPV buys for last year's Shane Mosley clash.

Pacquiao got 1.15m for Antonio Margarito and 700,000 for Joshua Clottey.