Where’s the money?

There’s turmoil threatening to break up International Boxing Federation (IBF) superbantamweight champion Manny Pacquiao’s camp. And the cause of it all is money, the root of all evils.

The problem arose when Pacquiao recently admitted he only received a purse of $70,000 from his second title defense against Jorge Eliecer Julio on the Lennox Lewis-Mike Tyson undercard in Memphis last June 8. Deducting his share of expenses and commissions, Pacquiao took home a paltry sum of about $36,000 or the equivalent of what he usually pockets in fighting on local shores.

San Francisco-based lawyer Sydney Hall, who claims exclusive rights to represent Pacquiao in negotiations for US fights (he pockets a seven percent share for his efforts), told The STAR yesterday the $70,000 paycheck was ridiculously low and said he was not involved in negotiating the purse.

"I should get fired for failing to protect Manny which is supposed to be my job," said Hall. "Manny should’ve gotten much more. Manny found out how much his purse was about four days before the fight and wanted to pull out. I just kept my mouth shut. I didn’t want to rock the boat."

According to Hall, it was Pacquiao’s business manager Rod Nazario who negotiated the deal with Murad Muhammad who owns the New Jersey promotions company M&M Sports.

Hall said he learned from Home Box Office (HBO) cable TV sources that Muhammad got a $250,000 kitty to put up the Pacquiao-Julio bout.

"If Manny’s share was $70,000 and Julio got $30,000, where did the rest of the money go?" asked Hall. "It looks like Muhammad bagged the rest of the cash–which meant he took more than what both fighters got combined."

In Pacquiao’s previous fight against Agapito Sanchez, Hall said the Filipino’s purse was $120,000. Hall claimed Muhammad’s kitty was $500,000. "If Sanchez got $100,000, where did the rest of the money go?" asked Hall once more. Hall estimated that from Pacquiao’s last two fights, Muhammad walked away with at least $300,000.

"I understand the argument that the Julio fight was an investment for Manny and that’s why his purse went down but the promoter should absorb the cost of the investment, not the fighter," said Hall. "As far as I’m concerned, I’m finished with Murad–he’s made enough money out of Manny. It’s time for a change."

Hall said after Pacquiao won the IBF title from Lehlo Ledwaba last year, Nazario agreed to a two-year extension of Muhammad’s contract to promote the Filipino’s fights in the US. The original contract was for three fights.

Nazario justified the renewal. "When nobody wanted to help in the US, only Murad stepped up," he said. "We owe Murad because of what he did for Manny – he got him the title shot. I gave Murad my word of honor that he has top priority to negotiate Manny’s fights in the US. My word is my bond."

As for the supposed $250,000 kitty for the Pacquiao-Julio bout, Nazario said Muhammad explained there were other expenses he had to pay for, like the fees for the referee and judges, transportation for the parties of both fighters, sanction fees, and others. Nazario said Julio’s purse was $40,000, not $30,000.

A few days ago, New York promoter Lou DiBella offered a nine-fight, three-year contract to represent Pacquiao in the US. The deal included a signing bonus of $50,000. The offer was tendered to Pacquiao’s registered manager Marty Elorde by DiBella’s lawyer Gary Gittelsohn.

Hall said he talked to Elorde and DiBella himself about the bid. He also spoke to Nazario, reiterating his authority to negotiate Pacquiao’s fights in the US.

"As far as I’m concerned, Murad blew his chance," said Hall. "DiBella’s offering a $200,000 purse for Manny’s next fight and that’s more than what he got from his last two fights. No way Murad can match the offer. I’m ready to go to court and challenge whatever contract Murad claims he has to promote Manny. If he has a contract, it was done without my knowledge and there can be no interference with my contract."

Hall, now in Manila, said he spoke to Pacquiao on the phone and explained DiBella’s bid. Pacquiao, vacationing in General Santos City, said he’s willing to sign.

"This is a great opportunity for a Filipino fighter," said Hall. "Let’s not throw it away. When will the Philippines produce another Manny? We’ve got a ripe apple right now and we should make sure we get the best deal for him."

Elorde said he’s prepared to switch to DiBella, too. He hired a local lawyer the other day to look into Pacquiao’s previous fight contracts which he claimed, he was never consulted on.

But Nazario told The STAR yesterday he’s staying firm on his agreement with Muhummad. "I haven’t seen DiBella’s offer," he said. "I’m an honorable man and I only deal with honorable people. It’s sad that some American people are trying to break up Manny’s team. Sila lang ang makikinabang. Pinagaaway-away tayong Pilipino. There is no change in the way Manny is being handled."

Nazario has sole authority to negotiate for Pacquiao and sign contracts in his behalf. Hall, however, said he has a contract, signed by Nazario, to negotiate Pacquiao’s US fights.

In the middle of this mess is Pacquiao. Where will this lead to?

DiBella and Muhammad are fighting for Pacquiao’s rights. Don King is slowly entering the picture through the back door. If Pacquiao’s Filipino team is divided, he will be the biggest loser of this battle. Elorde, Nazario, and Hall are on the same team and they should be on the same page.

The Americans are using the "divide and conquer" strategy. It looks like it’s working. Elorde and Nazario aren’t talking to each other.

Why can’t Elorde, Nazario, and Hall just sit down – with Pacquiao present–and agree to a deal that’s to their client’s best interest? It’s the least they can do for the country.

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