By Marc Anthony Reyes
08/15/2008
MANILA, Philippines—It’s off.
The mega-fight between boxing legend Oscar De La Hoya and Filipino champion Manny Pacquiao fizzled out after both camps failed to agree on the sharing of the HBO pay-per-view yields which experts said could reach an astounding $100 million.
The negotiations that started on a bright note last week bogged down Thursday after neither camp budged from their previous positions on the revenue split, according to the ESPN website Thursday.
The reports said De La Hoya initially wanted a 70-30 share of the PPV buys up to a certain amount and then an 80-20 deal in the excess of that amount. Later, reports said De La Hoya wanted it 70-30 for all buys.
Pacquiao stopped moving at 60-40 in favor of the Golden Boy.
“It is a bit mind-boggling for me that [Manny] would have to fight three or four times to make what he could make to fight Oscar. I hope Manny has been given all the information by his people,” GBP CEO Richard Schaefer was quoted as saying.
Pacquiao reportedly pocketed $5 million from his June fight against David Diaz which he won to become the new WBC lightweight champion.
Top Rank boss Bob Arum, who represents Pacquiao, said: “The deal we were working on was a lot of money for both guys. The question is what is a fair split? I thought somewhere between 30 and 40 percent for Manny was fair.”
Arum said Pacquiao may defend his WBC lightweight crown against top junior lightweight Humberto Soto.
08/15/2008
MANILA, Philippines—It’s off.
The mega-fight between boxing legend Oscar De La Hoya and Filipino champion Manny Pacquiao fizzled out after both camps failed to agree on the sharing of the HBO pay-per-view yields which experts said could reach an astounding $100 million.
The negotiations that started on a bright note last week bogged down Thursday after neither camp budged from their previous positions on the revenue split, according to the ESPN website Thursday.
The reports said De La Hoya initially wanted a 70-30 share of the PPV buys up to a certain amount and then an 80-20 deal in the excess of that amount. Later, reports said De La Hoya wanted it 70-30 for all buys.
Pacquiao stopped moving at 60-40 in favor of the Golden Boy.
“It is a bit mind-boggling for me that [Manny] would have to fight three or four times to make what he could make to fight Oscar. I hope Manny has been given all the information by his people,” GBP CEO Richard Schaefer was quoted as saying.
Pacquiao reportedly pocketed $5 million from his June fight against David Diaz which he won to become the new WBC lightweight champion.
Top Rank boss Bob Arum, who represents Pacquiao, said: “The deal we were working on was a lot of money for both guys. The question is what is a fair split? I thought somewhere between 30 and 40 percent for Manny was fair.”
Arum said Pacquiao may defend his WBC lightweight crown against top junior lightweight Humberto Soto.
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