Elorde isn’t holding his breath.
A few days ago, he spoke to Pacquiao on the phone and couldn’t get an assurance of a renewal. He’s offering at least a P5 Million signing bonus and a P20,000 monthly allowance for a five-year extension. Elorde says the amount of the signing bonus is negotiable and P5 Million is his starting bid.
Nazario is Pacquiao’s business manager and his contract was signed by Elorde. It is within Nazario’s authority to negotiate Pacquiao’s fights and handle his boxing-related finances.
According to Elorde, he is supposed to earn 30 percent of Pacquiao’s purses and Nazario, 10 percent. But he points out that Pacquiao’s training and other related expenses are taken from his share, leaving him with a net bite of about 20 percent. In his bid for an extension, Elorde hopes to net at least 25 percent.
Nazario’s contract is co-terminus with Elorde’s. However, Pacquiao signed a four-fight deal with Nazario and New Jersey promoter Murad Muhammad in March last year. The first fight in the package was the Juan Manuel Marquez bout last May. The Fahsan 3-K Battery outing was excluded from the deal because it was staged here, not in the US. The second fight is the Marquez rematch on Feb. 26. If plans don’t miscarry, the third fight will be against Erik Morales in July and the fourth will be the Marco Antonio Barrera rematch in November.
In effect, the four-fight deal will extend Nazario’s contract beyond its expiration on Jan. 31.
Elorde says since the four-fight deal was signed during his term as manager, he should share in the purses even if his own contract is not renewed on Jan. 31. He plans to consult his lawyers on the issue.
Elorde admits his investment of about P1.6 Million in Pacquiao has paid off dividends. In Pacquiao’s last two fights, Elorde’s share was P4 Million for Marquez and P3 Million for Fahsan, less 15 percent withholding tax.
Two years ago, Elorde failed in an attempt to oust Muhammad as Pacquiao’s US promoter and bring in Lou DiBella of New York. He was overruled by Pacquiao who owed a debt of gratitude to Muhammad for arranging his crack at the International Boxing Federation superbantamweight title of Lehlo Ledwaba in 2001.
Elorde says he’s not optimistic of his chances to renew his contract. He confides that he’s not the only bidder waiting in line.
Elorde says San Francisco lawyer Sydney Hall, a frequent Manila visitor, is trying to crash Pacquiao’s party with former world lightheavyweight champion Roy Jones’ support.
Only the other day, US lawyer Michael Contz–who was recently here for a month following Pacquiao around–reportedly spoke to Top Rank promoter Bob Arum claiming to represent the General Santos City fighter. Contz is supposedly a close friend of Pacquiao’s trainer Freddie Roach. When Muhammad was told of Contz’ move, he said he might sue for tortuous interference.
During his visit here, Contz told The Star his mission is to clean up boxing and said he is at odds with Muhammad.
Elorde says at 26, Pacquiao has a long way to go as a fighter. "He has a lot of opportunities ahead," he adds. "Grabe ang kanyang popularity. Even small kids know him. Today, he is considered the greatest Filipino fighter. But during the time of my father (Flash Elorde), he’s the greatest. Some say Manny is the greatest Filipino fighter ever. My opinion is he is for his time because who in today’s generation can remember my father?"
Elorde says it’s not right that he’s out of the loop in negotiating Pacquiao’s fights. "I haven’t seen the contracts Manny has signed and as his manager I have the right to go over his fight contracts," he noted. .But not even the GAB has copies of his contract. "No transparency. In the US, they have the Ali Act which assures transparency in boxing to protect fighters. I think we should also have one."
Nazario’s associate Moy Lainez said Pacquiao is keeping his options open in choosing a manager.
"Pinagiisipan ni Manny kung anong gagawin niya," said Lainez. "Kung P5 Million signing bonus lang, wala ‘yan. Kayang-kaya niyang kitain ‘yan sa isang laban. Ang hinahanap ni Manny sa isang manager ay yung nagmamalasakit sa kanya. Dapat sama-samang naghihirap sila. Yung laban kay Marquez, ang share ni Marty umabot ng P4 Million. But ano ang kanyang participation sa laban?"
But Elorde says he is never consulted in negotiating Pacquiao’s fights. Still, he hopes his contract will be renewed because "kami ni Manny, lucky together and this is between him and me, nobody else."