The truth behind JMM's $5 million demand!

MANILA, Philippines — Despite the tremendous odds, Golden Boy Promotions (GBP) is still nursing hopes of seeing Manny Pacquiao take on Juan Manuel Marquez on May 7, 2011 at the MGM Grand in Las Vegas. GBP Chief Executive Officer Richard Schaefer told ESPN.com that the fight the public wants to see is a third meeting between Pacquiao and Marquez, who fights under the GBP banner. “I really think if Pacquiao is going to fight May 7, on Cinco de Mayo weekend, you have to do Marquez on the Mexican holiday,” Schaefer told fight scribe Dan Rafael. “Do you know how big that would be? It’s a big fight no matter when it would be, but it would be even bigger on the Mexican holiday in Las Vegas.” It’s no secret that Hall of Fame promoter Bob Arum and Pacquiao’s Canadian adviser Mike Koncz are batting for Shane Mosley as the next opponent but Schaefer insists that it is the matchup that is made in heaven. Schaefer has been constantly emailing with Todd Duboef, who is the Top Rank president and Arum’s stepson, on the subject of Pacquiao’s much-awaited ring return next year. “I told Todd that I thought it was the right thing to do and that Marquez makes more sense,” Schaefer said. Schaefer said it was just reasonable that GBP is asking for a hefty sum from Top Rank since Top Rank would be the one staging the fight. Schaefer said Marquez’s asking price would be much less if Arum decides to co-promote with GBP. Arum and Pacquiao are going through the pertinent details of the 2011 fight and a deal could be in place by the end of this week when they confer once again during Pacquiao’s 32nd birthday bash on Friday night.