Floyd v Pac: The Promotional Issues
How i see the current state of play. My opinion only, but looks like most of the scene doesn't really think about these things.
Reasons why Manny won't get 50% and the fight "almost" certainly won't happen:
1. He doesn't deserve it. In 2009/10 he did deserve it and he was offered a
50/50 split, which he turned down. This is only in dispute by retarded
fans, or those who are in denial.
2. Current promotional arrangements. You can't have two promoters promote
this fight, unless Manny can form a similar arrangement with TR that Floyd
has with GBP, and Bob will fight that like hell, because it isn't in his
interests to do it. GBP also won't like it either.
Why you ask? Let's get into what a promoter actually does. Essentially the
promoter sets up and pays for everything involved in a boxing match/card.
The reason fighters can't do it, is because (generally) they don't have
enough capital to promote the fight themselves. A poor, or even reasonably well off fighter cannot fight without a promoter.
A promoter will setup and pay for things like:
- Site fee
- Ticketing
- licenses
- promotional paraphenalia and advertising
- media tours
- referee
- complying with legal requirements of relevant state commission
Sh*t they pay for everything down to the towels in the locker room, the
scales at the weigh in, the plastic beer cups and the ring girls. This is
the reason they take 30% after the network has been paid their hefty share
to distribute the fight via cable and satellite. They take the financial
risks involved in setting up the fight by outlaying their capital. They
ofcourse want to be rewarded handsomely for taking the risk, just like any
other investment decision that carries risk. More risk generally equates to
the potential for greater rewards.
This is what Floyd basically does. He didn't figure this out on his own, Al
Haymon told him this is how it works. In essence he is taking on the role
of promoter for his own fights and dipping into his own pocket to pay for
everything (ie taking the risk). He no doubt pays GBP a fee to outsource
much of this stuff and handle some of the logistics his company cannot yet
do. As he is the one who takes the risk, in addition to his fee for
fighting, he get's the 30% (or whatever the number is) revenue that the
promoter would usually get, and pays golden boy a flexible flat fee
depending on what they do, my guess is 3-5 million, whilst Floyd pays the
other $5-$10 million for promotional costs out of his pocket. After that
the network takes their 50%, though Showtime is probably getting less than
that in their potentially loss leading deal with Floyd. Floyd get's the rest to pay GBP and recoup the initial promotional outlay he paid. That's why he get's paid so much.
This is also the reason you won't see the fight happen. Bob want's to
promote the fight on his own, under the age old model where he get's his
30%. Barring that he wants to co-promote with golden boy under the old
model and split the likely 30-40% with GBP. The third option, which Bob is
trying to avoid is the same deal that Floyd has with GBP. That is, that he
get's paid a flat fee and they co-promote the event. GBP doesn't want that
because the fee they are paid by Floyd is essentially halved and they need
to then go and work with TR. Bob doesn't want it at all because he will
make less money being involved in a Floyd vs Manny fight than he would get
paid in any other fight with Manny where he get's to keep 30% because he is
the one outlaying the costs and taking the risk. GET IT? Still with me?
It's actually very simple. In a Mayweather vs Manny fight, Bob can't even
make the type of money he got matching up JMM with Tim Bradley. Also if it
happens Manny might see the light and ask himself, why the hell am i not
doing this myself? I can pay Bob $5m fee or whatever instead of 30% of all
the revenue.
So this leaves us with only THREE variations of the same option that see
this fight get made(keep in mind i'm not exactly sure how money is split,
but assumptions are prob pretty safe):
1. Manny does not extend his TR contract and leaves to become a free agent. He get's in touch with Floyd's people to negotiate the fight. He is either
given a large guarantee or a smaller one with PPV upside. He won't get
50/50, because Floyd has to tip in $10-15mil on the promotional side for
all the crap mentioned above.
2. Manny does the same as above, but also takes a portion of the risk by
outlaying his own money for promotional costs with Floyd on a 65/35 or
70/30 basis and in turn Manny is entitled to 30-35% (or whatever) of the
revenue generated.
3. Manny does the same again, but GBP and TR both promote with Floyd and
Manny each kicking in a flat fee to each respective promoter. This is less
likely.
Now 2 and 3 may not be options for Manny, because he may not have a liquid
$5 or $10 mil laying around, though he should consider liquidating assets
to find it, as under this scenario he get's to try to negotiate a larger
PPV upside rather than a flat fee, because like Floyd he will put some of
his own money in.
If Manny was smart he would be doing the same thing that Floyd is doing
right now with GBP before he signed his last contract extension, as he
would likely have had the capital to do so. Unfortunately everyone around
Manny is keeping this from happening. A promoters best interest is to make
the fighters share of revenue as small as possible and take more for themselves. Ofocourse this is a double edged sword as when the fighter is marquee you get more revenue, but you also need to pay him more. So a promoters and
fighters best interests are sometimes the same, but most of the time
conflicting. The role of a good manager or trusted adviser or even a
competent attorney is to advocate for his fighters interests and make sure
he is getting a fair and equitable deal for his fighter from the promoter.
This is where Manny's problems lie. His manager (Koncz) is essentially a
Bob Arum stooge who is protecting Bob Arum's interests and not Manny's.
This is the difference.
So now you see why it's just not feasible for Manny to demand 50% or even
40% of all revenue in the dynamic as it exists today. Floyd won't make
anymore money fighting Pac than he did with Canelo or even Cotto if he's
giving up 40% or possibly even 30%. He either needs to be putting in money
with Floyd or taking what he is given. It was feasible in 2009/10 because
Floyd wasn't going into his own pocket under this model as far as i know it
was GBP and TR who were going to front the money there. Floyd offering
Manny a $40 million flat fee is itself a huge risk, especially his
willingness to wire it within a few days. Consider the fight making $250m
in revenue. The network takes say 40% or $100m. Floyd pays GBP it's fee of
say $5m. A fight of this magnitude would have huge costs on the promotional
side. Say another $15-20m. That leaves Floyd with $125million. He has
already paid Manny $40m, so he makes $85m, about or less what he will end
up making from Canelo. On the flipside if the fight does ridiculous
numbers he get's more, but he still takes a risk.
These are the issues alot of bsence posters seem to be missing. The other
issue is that MP, to be frank is delusional. His bargaining power just
isn't that strong right now and he still wants a large chunk of the PPV
revenue. Unless he can rebuild it with some huge PPV's or impressve
victories, which let's face it isn't very likely atm. This is the reason
they were looking at Guerrero. KO him and Manny's stock goes up.
What i don't understand is bscenes reaction to Floyd. It's probably because
he's not very articulate and can't get his point across properly and keeps
repeating his stock standard lines, but somehow everyone expects him to
just concede and give Manny what he wants, even though MP supposedly
doesn't fight for money, will take less money and fights for the people.
Personally i still hold out some hope this fight happens. It's a blight on
both fighters resumes and careers if they don't fight each other. The tards
think it's only a stain on Floyd's career, and likewise Floyd's more
retarded fanbase, the flowmo, a close relation to the P.tard think it's
only an asterik for Manny, but in truth, no one will talk about either guy
without mentioning the other because both have very large and loyal
fanbases.
Willing to discuss differences of opinion or viewpoints, as long as it's well reasoned through, or corrections to anything i have assumed. Cheers.
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