The fight that was on and off is back on.
After a heart-to-heart talk with his promoter Bob Arum, boxing superstar Manny Pacquiao finally agreed to face Ricky Hatton in May 2 in Las Vegas.
What made Arum convince Pacquiao to go on and fight the superstar from Manchester is just between the two of them.
“The terms are confidential,” Pacquiao’s Canadian adviser Mike Koncz was quoted as saying.
“It was a heart-to-heart talk between Bob and Manny. And between the two of them they came to terms,” he added.
Golden Boy, which represents Ricky Hatton, was not part of the breakthrough deal between Arum and Pacquiao, who did not speak to each other for more than two weeks.
Pacquiao’s latest offer to Hatton, a 52-48 split of the pay-per-view sales and a guaranteed purse of $13 million or a 55-45 split and a guaranteed purse of $12 million, was turned down.
But insiders believe that Arum may have agreed to give Pacquiao the additional $1 million from the promoter’s own share of the revenue, to go with the 52-48 split.
In short, Pacquiao got what he wanted — $13 million and a 52-48 share.
“And he agreed to sign the contract with his pride intact,” a source said.
“It was earlier reported that Arum said that if it’s the additional money that’s keeping Pacquiao from signing then he (Arum) will get it from his own share,” the source added.
The STAR asked Arum about this arrangement a few days back, and replied by saying, “I don’t want to get into that.”
Pacquiao reportedly stands to earn as much as $20 million for the Hatton fight, much more than what he got for fighting Oscar dela Hoya last December.
Hatton is also in for the biggest paycheck of his career.
Negotiations for the blockbuster fight at 140 pounds came to a screeching halt when Pacquiao started demanding for a 60-40 split despite the fact that Arum had already made an agreement with the Hattons for a 50-50 share.
Then came a compromise offer of 52-48 with $13 million or 55-45 with $12 million.
“The world is looking forward to it, so the fight is on,” Pacquiao said in a radio interview yesterday.
“I have spoken to Bob Arum,” he said.
Arum might fly to Manila in the next few days to officially announce the fight.
The press tour in the U.K., which was scrapped because of the impasse, might be held in the second or third week of February to be preceded or followed by the US tour. Then Pacquiao starts training on March 1 in Los Angeles.
“For the meantime, Pacquiao will stay in Manila,” Koncz said.
“Manny has assured me he’s signed the contract, that he’s announcing to the Philippines press that he’s signed it, and that everything’s done,” Arum told the LA Times.