MANILA, Philippines — Manny Pacquiao, alone, is worth the risk. But he may not be worth the gamble if paired with Jorge Solis.
At least that is the perception among boxing enthusiasts after broadcast conglomerate ABS-CBN Broadcasting Corp. reportedly rejected the $800,000 (P39 million) Pacquiao was reportedly asking in exchange for exclusive rights to air his pay-per-view fight against the unbeaten Solis on April 14 at the Alamodome in San Antonio, Texas.
Two of the major concerns, a ring analyst told the Philippine Daily Inquirer, are whether Solis packs enough power to trade punches with Pacquiao for 12 full rounds and whether the Mexican has the drawing power of a boxing star.
Solar Sports and network giant GMA Network, however, found the offer enticing enough to pool their resources and cover the fight for a reported sum of more than P60 million.
Insiders at Solar Sports said the deal includes theater, cable and other ancillary rights in the Philippines.
Although it is said to be a done deal, the final figures and details remain a mystery. Solar Sports and GMA-7 officials deferred the final announcement, which was originally set for Thursday afternoon.
An industry insider said that based on projections, Solar Sports and GMA-7 need to generate at least P100 million in gross revenues to turn in a profit for the Pacquiao-Solis tiff, which is reportedly enjoying brisk ticket and PPV sales in the United States.
This ballpark figure could be realized if the fight lasts the distance or reaches the later stages, another boxing expert who asked to remain anonymous said.
The main risk is if Solis — for all his sterling credential of 32 wins with 23 knockouts and two draws — turns out to be not as good as advertised and is knocked out in the early rounds.
ABS-CBN once dangled $400,000 to air the Pacquiao-Oscar Larios showdown at the Araneta Coliseum last year. The Lopez-owned network hit the jackpot when the bout went the full route of 12 rounds.
ABS-CBN executive Peter Musngi said: “Wala na tayong magagawa. Malamang hindi nagkaayusan (We can no longer do anything. More likely, negotiations fell through).”
The network, according to the same boxing expert, cannot be faulted for taking a back seat this time for the Pacquiao fight. Its top honchos are just being careful with their card, he said.
