According to Pacquiao’s business manager Eric Pineda, a company owned by the fighter will promote his next bout against former World Boxing Council (WBC) superbantamweight champion Oscar Larios of Mexico on May 20 or 21, tentatively at the Araneta Coliseum.
Pineda told The Star yesterday negotiations are underway for San Miguel Corp., which recently signed up Pacquiao to a lifetime partnership contract, to be the main presentor of the scheduled 10-round match.
No details of the purses were divulged but sources said Pacquiao will be paid about $1 Million and Larios at least $200,000.
Pineda said the coming fight will be a test case for the country as Top Rank’s Bob Arum and Golden Boy’s Oscar de la Hoya, both big-time promoters, are eyeing Manila as host for future Pacquiao bouts.
"Arum is open to the idea of bringing the rubber match between Manny and (Erik) Morales to Manila," said Pineda. "That’s why we want to make sure we do a good job of staging Manny’s fight against Larios. De la Hoya is also open to the idea of bringing (Marco Antonio) Barrera to Manila. Of course, everything depends on how much money is on the table for both promoters."
After taking on Larios, Pacquiao is committed to face Morales in their third meeting. Arum has booked the Sam Boyd Stadium, a football arena with a 26,000-seat capacity, in Las Vegas on Sept. 16 for the event but no contract has been inked.
Arum and Pacquiao’s manager Shelly Finkel are still working out a compromise on the weight limit for the rubber match. Arum has asked to set it at 132 pounds. Pacquiao said he will abide only by what is in the contract for the third match–a limit of 130.
Arum told The STAR a few days ago in Las Vegas he is conferring with Finkel this week to arrive at an agreement. Finkel is in Las Vegas for his fighter Fernando Vargas’ bout against Sugar Shane Mosley last night (this morning, Manila).
"I don’t think the weight limit is going to be a problem," said Arum. "We want the fight to go on."
Pacquiao said if Arum insists on 132 pounds, he’ll face Barrera instead of Morales.
Pineda said US promoter Gary Shaw’s two-fight contract with Pacquiao has expired and it’s possible the fighter will negotiate his own bouts in the future.
"Gary’s contract ended after the (Hector) Velazquez and Morales fights," said Pineda. "Manny might not need an exclusive promoter anymore since his marketability is not a problem. Manny is the hottest property in boxing today."
Pacquiao will be actively involved in celebrating Gen. Santos City Day on Feb. 27. Pineda said the "People’s Champion" will host an amateur boxing card and distribute McDonald’s hamburgers to indigent children. The next day, he flies to Manila to confer with lawyer Nicholas Khan who is arriving from Los Angeles with Pacquiao’s assistant Joe Ramos.
"Nick will be in Manila for several days to thresh out loose ends for the May fight," said Pineda. "HBO is offering a four-fight deal with Manny, regardless of whether he wins or loses, and this contract will be discussed. Nick will also meet with prospective sponsors of the May fight."
If Larios is not available, former International Boxing Federation lightweight champion Javier Jauregui of Mexico is the next choice as Pacquiao’s opponent. Jauregui recently beat world-rated Filipino superfeatherweight contender Randy Suico on points.
Larios, 29, has a 56-4-1 record, with 36 KOs. He turned pro in 1994 and won the WBC 122-pound title on a first round knockout over Willie Jorrin in 2002. Larios repulsed seven challengers in a row, including Nedal Hussein–who once floored Pacquiao–before losing the crown to Israel Vazquez last December.