MANILA, Philippines -- Manny Pacquiao's camp says there is no economic sense in setting up a bout with Floyd Mayweather on May 5 after the unbeaten American publicly challenged the Filipino champion via Twitter.
Pacquiao's financial adviser Michael Koncz told The Associated Press on Thursday that a 45,000-seat boxing arena being built in Las Vegas won't be finished before the end of May and staging the Pacquiao-Mayweather fight in a smaller venue is "foolish from an economic standpoint."
Mayweather challenged and taunted Pacquiao to a May 5 bout in a tweet on Tuesday.
"Manny Pacquiao I'm calling you out let's fight May 5th and give the world what they want to see," he tweeted.
Mayweather is available for a fight in May at the MGM Grand Garden after a judge agreed last week to postpone his jail sentence for domestic violence until June. Mayweather was sentenced to 87 days in jail, but likely will serve less time.
The MGM Grand seats about 17,000, which could fetch around $20 million in sales, but the larger arena could raise an additional $30 million, Koncz said.
"Why would I tell Manny to fight on the 5th and throw away a percentage of 30 million? That's crazy," he said.
Top Rank promoter Bob Arum has told the Philippines' GMA television the only reason the fight won't happen is if there is an "economic problem."
He said the fight "could happen very, very easily" at the end of May -- enough time to build the outdoor arena "the fight so badly needs."
"I will also guarantee Manny's purse," he said. "In other words, Manny doesn't want to go into the ring and just fight out a percentage."
He said Mayweather is looking for "outside parties to guarantee his end of the purse."
"So, until he finds the angel, there is no fight," Arum said.
In a separate interview with GMA, Pacquiao said that if Mayweather agrees to a "50-50 sharing, there will be no problem."
"The purse is not the issue right now, the date is," Koncz said. "But we don't have a problem splitting it 50-50."
http://espn.go.com/boxing/story/_/id/7453621/manny-pacquiao-camp-says-no-economic-sense-5-mayweather-fight
This just in: The biggest and most lucrative fight in the history of the sport doesn't make "economical sense".
^^^
:lol1: Excuses are flying in thick and fast from team MP. That's how they work. Everyone from Roach, Arum and the attorneys throw in different excuses to try to murky the water.
A fight that will generate at an absolute minimum $200,000,000 doesn't make economic sense. These guys need to get their dunce caps out. Not to mention May 5th is the best date in May.....also they had no problem fighting JMM on that day.
if this fight is made then it would do about 3million buys n at $70 dollars each (i think thts watmayweather/ortiz was) then it would do 210million dollars just on ppv, also mayweather/de la hoya was at mgm n it did over 18million on the gate n this gate would break tht as well. If you include money tht would come in from international tv rights (i would think just in the uk it would make 15million pound which is over 20million dollars) then just on those 3 would r looking at over 250million dollars. This is before you look at sponsorship deals i.e. in the mayweather/mosley fight iron man 2 was advertised on the 4 ring posts n with this fight people would pay millions just 4 one ring post.
I would think this fight would generate 350/400million dollars.
Bob Arum agree to fight at MGM but only in late may.
How does it make financial sense to fight at MGM in late may but not on may fifth?
The stadium was a weird excuse and angle, but it made some sense.
It wouldn't be close to putting 40 extra million into the net but it would for sure make more money than at MGM.
But now Bob Arum is OK with not building a stadium; hes just not OK with fighting on may fifth.
Why?
thats a complete lie the temp stadium could be full operational by april 22nd if construction starts the first week of febuary. nevada ready mix would do the foundation.
MANILA, Philippines -- Manny Pacquiao's camp says there is no economic sense in setting up a bout with Floyd Mayweather on May 5 after the unbeaten American publicly challenged the Filipino champion via Twitter.
Pacquiao's financial adviser Michael Koncz told The Associated Press on Thursday that a 45,000-seat boxing arena being built in Las Vegas won't be finished before the end of May and staging the Pacquiao-Mayweather fight in a smaller venue is "foolish from an economic standpoint."
Mayweather challenged and taunted Pacquiao to a May 5 bout in a tweet on Tuesday.
"Manny Pacquiao I'm calling you out let's fight May 5th and give the world what they want to see," he tweeted.
Mayweather is available for a fight in May at the MGM Grand Garden after a judge agreed last week to postpone his jail sentence for domestic violence until June. Mayweather was sentenced to 87 days in jail, but likely will serve less time.
The MGM Grand seats about 17,000, which could fetch around $20 million in sales, but the larger arena could raise an additional $30 million, Koncz said.
"Why would I tell Manny to fight on the 5th and throw away a percentage of 30 million? That's crazy," he said.
Top Rank promoter Bob Arum has told the Philippines' GMA television the only reason the fight won't happen is if there is an "economic problem."
He said the fight "could happen very, very easily" at the end of May -- enough time to build the outdoor arena "the fight so badly needs."
"I will also guarantee Manny's purse," he said. "In other words, Manny doesn't want to go into the ring and just fight out a percentage."
He said Mayweather is looking for "outside parties to guarantee his end of the purse."
"So, until he finds the angel, there is no fight," Arum said.
In a separate interview with GMA, Pacquiao said that if Mayweather agrees to a "50-50 sharing, there will be no problem."
"The purse is not the issue right now, the date is," Koncz said. "But we don't have a problem splitting it 50-50."
http://espn.go.com/boxing/story/_/id/7453621/manny-pacquiao-camp-says-no-economic-sense-5-mayweather-fight
It doesn't make economical sense??
http://25.media.tumblr.com/tumblr_lnvwz4nf2P1qktbl7o1_500.gif
Today Arum says"we can fight in late May and forget about the stadium Floyd just needs someone to cover his purse"so now the stadium isnt the problem its the guaranteed purse for floyd...............but there is 1 problem??where are these investors he was talking about??and now he wants goldenboy to guarantee it..yet at first he didnt want them involved??