Pacquiao camp rules out bout on May 5
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Shanghai Daily, January 13, 2012
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Manny Pacquiao works out as trainer Freddie Roach looks on at the Wild Card Boxing Club in the Hollywood section of Los Angeles. |
Manny Pacquiao's camp says there is no economic sense in setting up a bout with Floyd Mayweather on May 5 after the unbeaten American publicly challenged the Filipino champion via Twitter.
Pacquiao's financial adviser Michael Koncz said that a 45,000-seat boxing arena being built in Las Vegas won't be finished before the end of May and staging the Pacquiao-Mayweather fight in a smaller venue is "foolish from an economic standpoint."
Mayweather challenged and taunted Pacquiao to a May 5 bout in a tweet on Tuesday.
The MGM Grand only seats about 17,000, which could fetch around US$20 million in sales, but the larger arena could raise an additional US$30 million, Koncz said.
"Why would I tell Manny to fight on the 5th and throw away a percentage of 30 million? That's crazy," he said.
Top Rank promoter Bob Arum has told the Philippines' GMA television the only reason the fight won't happen is if there is an "economic problem." He said the fight "could happen very, very easily" at the end of May - enough time to build the outdoor arena "the fight so badly needs."
"I will also guarantee Manny's purse," he said. "In other words, Manny doesn't want to go into the ring and just fight out a percentage."
He said Mayweather is looking for "outside parties to guarantee his end of the purse." "So, until he finds the angel, there is no fight," Arum said.
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