Bidders dangle oodles for Pacquiao bout here
December 13, 2003 | 12:00am
Solar Sports has offered a P20 Million purse and promoter Gabriel (Bebot) Elorde Jr. P19 Million for International Boxing Federation (IBF) superbantamweight champion Manny Pacquiao to stake his crown against leading contender Jose Luis Valbuena of Venezuela in a mandatory defense here early next year.
Pacquiaos business manager Rod Nazario told The Star yesterday hes seriously considering both bids but the fight is contingent on the IBFs sanction. Nazario said he initially offered Valbuena a $60,000 purse plus airfare and accommodations for four but got no reply. The other day, Nazario upped his offer to $80,000.
Valbuena, 32, isnt likely to accept Nazarios terms and will cast his fate on a purse bidding that the IBF will conduct on Dec. 27 in New Jersey. Nazario said hes not inclined to join the purse bidding because it would only jack up Valbuenas paycheck. In a purse bidding for a title fight, the opposing promoters enter bids in a sealed envelope, indicating a budget for the champion (75 percent) and challenger (25).
Nazario explained that if he bids $500,000 for the right to promote the fight, it will mean a paycheck of $125,000 for Valbuena because Pacquiao shouldnt earn less than $375,000. "Its too much money for Valbuena," said Nazario. "Thats why I tried to preempt the purse bidding by offering $60,000 then $80,000 to Valbuena."
If Valbuenas promoter Oscar de la Hoya wins the purse bid, his outfit Golden Boy will decide the date and site of the fight. Nazario said Pacquiao will relinquish the IBF crown if he feels the conditions for the defense are not fair.
Pacquiao, who turned 25 yesterday, is penciled to challenge the winner of the In Jin Chi-Michael Brodie rematch for the vacant World Boxing Council (WBC) featherweight title. Chi and Brodie fought to a disputed majority draw in Manchester last September.
Former WBC secretary-general Rudy Salud wrote WBC president Jose Sulaiman last week to ask if Pacquiaowho despite beating consensus peoples featherweight champion Marco Antonio Barrera, holds no belt in the 126-pound divisioncould fight either Chi or Brodie for the title.
"My country is in a frenzy, a euphoria, following Mannys stirring win over Barrera," said Salud in his letter to Sulaiman. "My pride will be more complete if Pacquiao again becomes a WBC champion. I have convinced Pacquiaos group, composed of friends of yours and mine, namely, Rod Nazario, Lito Mondejar and Moy Lainez that Pacquiao must come back to the WBC umbrella."
In his reply, Sulaiman welcomed Pacquiaos return. "Pacquiao deserves and we would be very proud for him to come back to the WBC," said Sulaiman, referring to the Filipinos previous reign as WBC flyweight titlist. "However, we will be holding a purse offer for the Chi-Brodie rematch to be held no later than March 12. The WBC would order the winner to fight Pacquiao as he will substitute Barrera as No. 3 (contender)."
Nazario said after one more fight either against Valbuena or another opponent in a non-title bout if the mandatory IBF championship defense falls through, Pacquiao will be ready to face the Chi-Brodie survivor in June or July.
Nazario disclosed that US promoter Bob Arum has offered an $800,000 purse for Pacquiao to take on unified IBF and World Boxing Association featherweight champion Juan Manuel Marquez of Mexico. But hes not keen on it.
Nazario clarified that although he was told of a rematch clause in the Barrera contract, the final version had no stipulation. Besides, Nazario added, it doesnt look like Barrera relishes the thought of fighting Pacquiao again.
As for Pacquiaos finances, Nazario said theres no problem.
"Ive deposited over $150,000 in a US account to take care of Mannys taxes," said Nazario. "For the Barrera fight, Manny earned a net of about P14 Million. Our US promoter Murad Muhammads share was about $100,000 net after he gave Manny a bonus of $100,000. Murad also gave Manny a $50,000 bonus in his defense against (Agapito) Sanchez. Walang hanky-panky going on behind Mannys back. Alam niya lahat. Si Murad, kumikita rin kasi hes negotiating fights for Manny. Hindi naman tama kung wala siyang kikitain. The bottom line is Mannys happy."
Pacquiaos business manager Rod Nazario told The Star yesterday hes seriously considering both bids but the fight is contingent on the IBFs sanction. Nazario said he initially offered Valbuena a $60,000 purse plus airfare and accommodations for four but got no reply. The other day, Nazario upped his offer to $80,000.
Valbuena, 32, isnt likely to accept Nazarios terms and will cast his fate on a purse bidding that the IBF will conduct on Dec. 27 in New Jersey. Nazario said hes not inclined to join the purse bidding because it would only jack up Valbuenas paycheck. In a purse bidding for a title fight, the opposing promoters enter bids in a sealed envelope, indicating a budget for the champion (75 percent) and challenger (25).
Nazario explained that if he bids $500,000 for the right to promote the fight, it will mean a paycheck of $125,000 for Valbuena because Pacquiao shouldnt earn less than $375,000. "Its too much money for Valbuena," said Nazario. "Thats why I tried to preempt the purse bidding by offering $60,000 then $80,000 to Valbuena."
If Valbuenas promoter Oscar de la Hoya wins the purse bid, his outfit Golden Boy will decide the date and site of the fight. Nazario said Pacquiao will relinquish the IBF crown if he feels the conditions for the defense are not fair.
Pacquiao, who turned 25 yesterday, is penciled to challenge the winner of the In Jin Chi-Michael Brodie rematch for the vacant World Boxing Council (WBC) featherweight title. Chi and Brodie fought to a disputed majority draw in Manchester last September.
Former WBC secretary-general Rudy Salud wrote WBC president Jose Sulaiman last week to ask if Pacquiaowho despite beating consensus peoples featherweight champion Marco Antonio Barrera, holds no belt in the 126-pound divisioncould fight either Chi or Brodie for the title.
"My country is in a frenzy, a euphoria, following Mannys stirring win over Barrera," said Salud in his letter to Sulaiman. "My pride will be more complete if Pacquiao again becomes a WBC champion. I have convinced Pacquiaos group, composed of friends of yours and mine, namely, Rod Nazario, Lito Mondejar and Moy Lainez that Pacquiao must come back to the WBC umbrella."
In his reply, Sulaiman welcomed Pacquiaos return. "Pacquiao deserves and we would be very proud for him to come back to the WBC," said Sulaiman, referring to the Filipinos previous reign as WBC flyweight titlist. "However, we will be holding a purse offer for the Chi-Brodie rematch to be held no later than March 12. The WBC would order the winner to fight Pacquiao as he will substitute Barrera as No. 3 (contender)."
Nazario said after one more fight either against Valbuena or another opponent in a non-title bout if the mandatory IBF championship defense falls through, Pacquiao will be ready to face the Chi-Brodie survivor in June or July.
Nazario disclosed that US promoter Bob Arum has offered an $800,000 purse for Pacquiao to take on unified IBF and World Boxing Association featherweight champion Juan Manuel Marquez of Mexico. But hes not keen on it.
Nazario clarified that although he was told of a rematch clause in the Barrera contract, the final version had no stipulation. Besides, Nazario added, it doesnt look like Barrera relishes the thought of fighting Pacquiao again.
As for Pacquiaos finances, Nazario said theres no problem.
"Ive deposited over $150,000 in a US account to take care of Mannys taxes," said Nazario. "For the Barrera fight, Manny earned a net of about P14 Million. Our US promoter Murad Muhammads share was about $100,000 net after he gave Manny a bonus of $100,000. Murad also gave Manny a $50,000 bonus in his defense against (Agapito) Sanchez. Walang hanky-panky going on behind Mannys back. Alam niya lahat. Si Murad, kumikita rin kasi hes negotiating fights for Manny. Hindi naman tama kung wala siyang kikitain. The bottom line is Mannys happy."
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