CEBU, Philippines - Reigning WBO junior welterweight champion Chris Algieri has finally agreed to a big money fight against Filipino ring superstar Manny Pacquiao on November 22 in Macau, China.
At stake in the 12-round bout is Pacquiao's WBO welterweight belt.
In a report by Greg Logan of newsday.com, Algieri's promoter Joe DeGuardia has confirmed that the deal is done and that the unbeaten American fighter is guaranteed a career-high purse of $1.5 million plus a substantial share on pay-pay-view sales.
"The deal is done. We spent the day together and hammered it out. Chris is extremely happy with the overall package and pleased with the total compensation and the way the deal is structured," said DeGuardia in the same internet report. "It's a great situation. I feel like my friend and 'family member' has gotten his just reward. It's the fruits of all his work at the Paramount and on Long Island."
"I'm pleased I was able to generate this fight with him and get the kind of money he's getting," he added.
Part of the deal is that the 30-year-old Algieri will retain his WBO title regardless of the outcome.
The deal, of course, is still subject to Pacquiao's approval, but DeGuardia said he has already reached an agreement on all terms with Top Rank chairman Bob Arum.
Algieri's name cropped up as the next possible foe of Pacquiao following his split decision upset of Russian star Ruslan Provodnikov last June 14 at the Barclays Center in Brooklyn, New York. He only received $100,000 in that bout.
Algieri's is unscathed in 20 fights laced with 8KOs, while Pacquiao sports a 56-5-2 record dotted with 38KOs.
Pacquiao is without question the heavy favorite over Algieri owing to his vast experience and maturity spotlighted by a record eight world titles in different weight divisions. The fighting congressman from Sarangani Province easily dismantled Brandon Rios over 12 rounds of one- sided battle the last time he fought in Macau, regarded as the 'Las Vegas of Asia', on November 23 last year.
DeGuardia, however, believes that his ward is capable of pulling off another boxing shocker.
"Nobody gave him a shot against Provodnikov. Now, he has another hurdle to climb. Chris thrives on that," confidently declared DeGuardia. (FREEMAN)