Pac's Contract With Top Rank Concerning GBP

[loui_ludwig]

There was a thread about this stating that Pac extended his stay with Top Rank. Golden Boy Promotions i believed was getting some of the money from Pac's fight that does not involve GBP fighters. This was an agreement between the 2 promotions cuz of Pacquiao liking to sign every paper that involves money.

With this extension, meaning a new contract, does GBP will still get money or it no longer matter cuz the contract expired?

[Ko King 212]

There was a thread about this stating that Pac extended his stay with Top Rank. Golden Boy Promotions i believed was getting some of the money from Pac's fight that does not involve GBP fighters. This was an agreement between the 2 promotions cuz of Pacquiao liking to sign every paper that involves money.

With this extension, meaning a new contract, does GBP will still get money or it no longer matter cuz the contract expired?

I guess it determines how long PAC signed with gbp for. Or how much money they are suppose to recoup. I hope PAC doesn't have to pay gb ****. I'm not a fan of arum but he does a great job of promoting PAC(I think he should promote the fights a little better).

**** this why we can't get gbp vs top rank fights. To much Joe **** going on.

[Monte Fisto]

There was a thread about this stating that Pac extended his stay with Top Rank. Golden Boy Promotions i believed was getting some of the money from Pac's fight that does not involve GBP fighters. This was an agreement between the 2 promotions cuz of Pacquiao liking to sign every paper that involves money.

With this extension, meaning a new contract, does GBP will still get money or it no longer matter cuz the contract expired?

Uhh, I think you just answered your own question.

[loui_ludwig]

Uhh, I think you just answered your own question.

Not really cuz you know here in the US, there is always a loophole in the contract that states something that will favor another party.

[Gino Ros]

There is a pending lawsuit from GBP against TR.

In essence, it states that Arum and Pacquiao have lied about the numbers in order to defraud GBP.

For example, Arum stated in the media dn to GBP that Manny had a $15 million guarantee for the Cotto fight. In actuality, the contracts filed with NSAC show that Pac was only paid $7.5 million. TR also overstated the expenses and underreported the endorsement income.

All of this is to say that unless the lawsuit is settled, GBP will have partial ownership of Pac for a long time to come. A tenet of the law is that you can't have a contract under false pretenses - that renders the contract invalid.

http://sports.espn.go.com/sports/boxing/news/story?id=5601657

Among various accounting issues that Golden Boy alleges in the Cotto fight is that Top Rank purposefully misreported "at least $6 million available to distribute" to Golden Boy and Top Rank by falsely reporting Pacquiao's purse. Golden Boy says it received accountings from the fight saying Pacquiao's purse was $15 million, but that the bout agreement on file with the Nevada State Athletic Commission, which oversaw the fight in Las Vegas, lists Pacquiao's purse as $7.5 million, raising the question of where the other $7.5 million went.