Filipino ring idol Manny Pacquiao will meet with Golden Boy Promotions CEO Richard Schaefer during a quick trip to the US where he is scheduled to participate in a poker tournament in Las Vegas.
In an overseas telephone conversation with Viva Sports/Manila Standard Today, Schaefer said that Top Rank promoter Bob Arum was out of the country but that he would meet with Pacquiao “to start planning the media functions, press conferences and things like that.” Schaefer also clarified that that Pacquiao will now be jointly promoted by Top Rank and Golden Boy Promotions.
Schaefer revealed that Pacquiao participated in the agreement under a framework reached after sensitive mediation talks handled by retired Superior Court judge Daniel Weinstein who is regarded as the “Godfather” of mediation in the US. He said the framework of the final settlement was “acceptable to us, was acceptable to Top Rank and was acceptable to Manny.”
Schaefer disclosed that during the mediation talks leading to an agreement Pacquiao was also consulted because he was “a party to the settlement agreement because he was obviously a party to the lawsuit. Absolutely. We all had to agree.”
The Golden Boy CEO said he flew to Las Vegas and met with Arum last Wednesday. He said that when they sat down face-to-face “we both felt comfortable and as smart business people we want to give the fight fans the best fights.” Schaefer said they agreed to put the past behind them and “really move on for the betterment of the fighters and the betterment of the fight fans.”
The result of the meeting was the October 6 rematch between Pacquiao and former WBC super featherweight champion Marco Antonio Barrera. In their first clash Pacquiao demolished Barrera in eleven rounds at the Alamadome in San Antonio, Texas on November 2003.
Pacquiao’s purse is expected to be much bigger than the $2 million he said he received for the fight against unknown but undefeated Jorge Solis last April 14 which Pacquiao won by an eighth round knockout. Initial reports pointed to a purse of $5 million which Arum had promised in a news conference in Manila last December. However, Schaefer didnt disclose any amount although he said "with everybody working together and being involved in big fights I think ultimately bigger fights means more money and it means more money for everybody."
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