Just when everybody has given up on the hope of seeing British boxing champ Ricky Hatton square off against pound-for-pound king, Filipino boxer, Manny Pacquiao win – the fight is back on.
It seems that Pacquiao had a change of heart and has agreed to the terms presented to him. The Filipino champ’s promoter, Bob Arum, was the one who broke news about the development to the boxing world.
Arum said, “Manny has assured me that he has signed the contract and was going to announce it to the Filipino press, I think everyone (on Pacquiao’s negotiating team) finally came to the realization of where we are in the world and where this economy is.”
By agreeing to the terms, Pacquiao would be walking away with a guaranteed $12 Million, a whopping $1M more than what he was initially offered. It was apparently too much for him to pass up.
When Arum broke the news to Golden Boy CEO Richard Schaefer, the latter was not willing to commit to anything until he was certain that Pacquiao had signed the contract.
Both Arum and Schaefer had originally agreed to a 50-50 split between the two fighters. But, Pacquiao felt that he deserved more. As a result, Hatton’s camp offered a 48-52 split in Pacquiao’s favor. But, the Filipino fighter wanted at least 55. Something that Hatton was not willing to give.
In the end, Pacquiao gave in to the 48-52 split. Arum also announced that some tweaks were made to the contract, but that it did not cost anybody anything.
Schaefer announced that a copy of the contract signed by Pacquiao has been sent to England, but that he still hasn’t received it back yet. He also said “I believe it’s going to happen, but it’s not finalized. We’re working on the paperwork. How can a deal be finalized if only one fighter has signed?”
