Originally posted by Walt Liquor
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1 thing i have noticed bout Cotto fans and appreciate
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@ REED:
Mayweather turns down $8 million to fight Margarito
Updated: April 25, 2006, 5:27 PM ET
By Dan Rafael | ESPN.com
Arum said Mayweather preferred to await the outcome of the May 6 Oscar De La Hoya-Ricardo Mayorga fight instead of committing to Margarito because he would prefer to fight De La Hoya.
"We're not sitting waiting on De La Hoya," Ellerbe said. "He's in a tough, tough fight with Mayorga."
Many in the sport believe a De La Hoya-Mayweather fight is the biggest fight on the horizon and the only one capable of generating 1 million-plus buys on pay-per-view.
The reason Mayweather opted for the buyout rather than waiting for the May 6 result was because the contract had a limited window for the buyout, one that expired before the De La Hoya fight. However, Arum said he would have extended the window if Mayweather had asked. What Arum wouldn't do, he said, was raise the guarantees for other fights outlined in the contract.
Arum said while Mayweather would have taken the $8 million to fight Margarito, he asked for a $10 million guarantee to fight opponents such as Miguel Cotto and Ricky Hatton, when Arum was only willing to guarantee $7 million.
Arum said Mayweather also asked for $20 million to fight De La Hoya, a fight Arum said he wasn't interested in participating in.
"That's not in the cards," Arum said. "He wants $20 million for the De La Hoya fight? It's not there. Sometimes, my man, you gotta know when to hold 'em and when to fold 'em. We'll talk about things down the road."
Ellerbe said Mayweather opted for the buyout so he could be "more in control of when and who he fights next. It's as simple as that. There is nothing bad between Floyd and Bob."
Arum agreed that the split with Mayweather was not on bad terms like their brief breakup last year. In fact, Arum said, "We intend to be back together. Everything with this was honorable and good. I had offered him numbers [for a multi-fight contract extension] that were livable. His expectations are in the stratosphere. He was entitled to buy me out, and he did. We decided this was the best way to handle it. He is a free agent. We have agreed to work with each other [in the future]."
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