Espinosa fight up for bidding

The highest bidder gains the right to promote the Luisito Espinosa-Guty Espadas fight for the vacant World Boxing Council (WBC) featherweight title.

WBC President Jose Sulaiman will conduct the purse bid in Mexico City on Tuesday.

Games and Amusement Board (GAB) chairman and WBC vice president Dominador Cepeda told The STAR yesterday the winning bid will be announced no later than Feb. 23 and the fight will take place on or before April 23.

Philip Juico of the Araneta group said he plans to submit a bid of $150,000, pending approval from Big Dome owner Jorge (Nene) Araneta and a promise of government support from President Joseph Estrada, to stage the bout at the Araneta Coliseum.

Cepeda said the Philippine offer will be transmitted by fax to Sulaiman's private number and was assured it will be sealed in an envelope before simultaneous public disclosure with other bids.

Cepeda added that he proposed a 55-45 sharing of the purses in favor of Espinosa even as a 50-50 ratio is usually applied to a fight for a vacant title. The WBC Board must cast a 2/3 vote to carry Cepeda's proposal. Cepeda said the voting will be done by fax since a Board meeting cannot be convened. The result will be known early next week.

"The WBC will allow a 55-45 sharing under special cases," explained Cepeda. "I invoked the special case clause since Luisito is a former champion and lost the title on a controversial decision. Besides, it was the WBC that ordered a mandatory title shot for Luisito who deserves a bigger purse than Espadas."

If the WBC approves $150,000 as the winning bid, Espinosa will bankroll $82,500.

Juico said he hopes the President will form a committee, similar to what was created for Espinosa's title defense against Cesar Soto in 1996 and Gerry Peñalosa's WBC superflyweight title defense against Seung Koo Lee in 1997, to facilitate government support for the fight. In the two previous cases, the committee was made up of executives from Pagcor, PCSO, Land Bank, and the GAB.

"If the Araneta group bids $150,000, it has a chance to win," said Cepeda. "I remember Manny Pacquiao's defense against Gabriel Mira here had a purse budget of $125,000 and that included a $55,000 buy-out of the option from a Thai promoter."

Juico admitted the possibility of a rigged bidding but it won't deter the Araneta group from trying. "We owe it to Luisito and the Filipino fans to at least make a bid," he said. "If we don't make it, our consolation is we tried."

There is talk that America Presents, the Denver promotions outfit that holds Espinosa's rights until May 12, is selling out to a Mexican group linked to Espadas. The Mexican group is rumored to be coughing up big money to bring the fight to Yucatan, Espadas' hometown.

Espinosa, meanwhile, began light sparring yesterday at the Mandaluyong gym. He went three rounds with Philippine lightweight champion Joselito Rivera. Espinosa flew in from San Francisco, where he now lives with his family, last Dec. 24 and leaves on Feb. 12 for the US. If the Espadas fight is held here, Espinosa will stay until the bout.