By Steve Kim
On Friday morning, promoter Tom Loeffler hosted a media breakfast to give more details on his new venture, 360 Promotions, which will be debuting it's club shows in Hollywood on March 27th. Loeffler, who is still the managing director of GGG Promotions, was naturally asked about the rematch between Gennady Golovkin and Saul Alvarez, which will take place on May 5th in Las Vegas.
So what was the most difficult aspect of consummating this deal?
Loeffler responded - "Getting 'Canelo' to realize his negotiating position had changed because he lost the first fight. 'Canelo' started out with a position of it was a draw so we should have the same conditions of the first fight. We made a lot of concessions just to get the first fight, thinking not that it would be an easy fight for 'Triple G', that it would be the fight we've been working for: huge profile fight, big pay-per-view fight, and against somebody that would be on the same level or even arguably higher level here in the United States because it was always 'Triple G' carrying the promotion."
In this equation, it was Alvarez who was the bigger attraction and therefore the A-side, who got a larger share of the money.
"So we made a lot of concessions the first time. With the rematch, with the success of the pay-per-view, with the ticket sales there was no way we would agree to the same conditions. There was a rematch clause, we took the position, '(Golovkin) won the fight, not on paper but he won the fight in the ring. So the rematch clause should be in effect, what was negotiated. And 'Canelo' took the position it was a draw and it should be the same conditions. So that's where we started out."
Eventually, Golden Boy Promotions and Golovkin's side came to a resolution that was announced a few weeks ago.
Loeffler continued - "Slowly we moved forward or closer together and with as the final details. When we said, '90-percent done' - it was just a few small details that needed to be sorted out. Madison Square Garden made a very strong offer, I would say probably equal to what Nevada made but 'Canelo' made it clear he preferred to go back to Las Vegas."
The rematch will take place where the first bout was held back in September at the T-Mobile Arena where Golovkin and Alvarez fought to a disputed draw.
Steve Kim is the news editor for BoxingScene.com.