Pacquiao’s business manager Rod Nazario told The Star yesterday he’s seriously considering both bids but the fight is contingent on the IBF’s 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, isn’t likely to accept Nazario’s terms and will cast his fate on a purse bidding that the IBF will conduct on Dec. 27 in New Jersey. Nazario said he’s not inclined to join the purse bidding because it would only jack up Valbuena’s 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 shouldn’t earn less than $375,000. "It’s too much money for Valbuena," said Nazario. "That’s why I tried to preempt the purse bidding by offering $60,000 then $80,000 to Valbuena."
If Valbuena’s 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 Pacquiao–who despite beating consensus people’s featherweight champion Marco Antonio Barrera, holds no belt in the 126-pound division–could fight either Chi or Brodie for the title.
"My country is in a frenzy, a euphoria, following Manny’s 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 Pacquiao’s 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 Pacquiao’s return. "Pacquiao deserves and we would be very proud for him to come back to the WBC," said Sulaiman, referring to the Filipino’s 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 he’s 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 doesn’t look like Barrera relishes the thought of fighting Pacquiao again.
As for Pacquiao’s finances, Nazario said there’s no problem.
"I’ve deposited over $150,000 in a US account to take care of Manny’s taxes," said Nazario. "For the Barrera fight, Manny earned a net of about P14 Million. Our US promoter Murad Muhammad’s 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 Manny’s back. Alam niya lahat. Si Murad, kumikita rin kasi he’s negotiating fights for Manny. Hindi naman tama kung wala siyang kikitain. The bottom line is Manny’s happy."