SOLAR SPORTS is willing to lose a few millions so long as it impresses on Manny Pacquiao that the maverick television station will be there behind him all the way.
A Solar source confirmed that the ballpark figure of P40 million given to Pacquiao for the TV rights for his coming fight with Mexico’s Jorge Solis is fairly accurate. “We hope to recover most of the investment and perhaps earn a few millions more,” he said.
In the event that the deal fails to meet expectations, he said he is confident it will be bright for Solar and Pacquiao’s future business relations because Solar had shown it was willing to gamble big bucks for the boxer.
The source, who requested anonymity because he was not authorized to disclose details of the transaction, said they are looking at a P100 million gross for the bout to include earnings in television advertisements and movie theater sales.
“Our projection is that this bout will gross about P100 million, based on the income from the Pacquiao-Morales fight,” he said. Although Solis is no Morales, he said Pacquiao has become more popular today than ever before.
Some people, however, are skeptical of the Solar estimates.
Rod Nazario, who gave Pacquiao his big break on American soil in June 2001, said he could not see how Solar could get back its investment and earn from the deal.
During his tenure as Pacquiao’s business manager until 2005, Nazario was involved in the sale of the fighter’s TV rights to Viva Sports and Solar Entertainment, and when the Filipino southpaw fought on US shores against Lehlo Ledwaba, the local rights were sold for just $ 30,000.
“Manny wasn’t that popular at that time,” said Nazario, though he admitted that the price of the TV rights started to escalate soon after. Thus, when Pacquiao faced Marco Antonio Barrera, it was sold to Solar for a shade below $ 100,000.
The profit gained from the selling of the rights went to Pacquiao.
As to the amount that Solar paid for the Solis bout, Nazario said he could not find a plausible reason for the fight to generate big bucks enough to cover the investment.
A drawback, Nazario said, is if Pacquiao ends the bout early or vice versa.
Though holding an unbeaten slate of 32-0 with 23 knockouts, Solid would be lucky to be standing by the sixth round, Nazario said.
Nazario also mentioned some exclusivity contracts by advertisers.
“If San Miguel, for example, comes in as a sponsor, Tanduay is out (because of a possible lockout agreement),” said Nazario.
“I don’t know how they’re going to do it but they’re all grown up and should know what to do,” said Nazario.
Key members of Pacquiao’s entourage have contrasting opinions regarding the exact amount that is going to be paid by Solar with lawyer Franklin Gacal branding it as hearsay even if the fighter’s close friend Wakee Salud had told philboxing.com that Solar is indeed paying 0,000.
Gacal said he is not authorized to divulge the sensitive details of the deal that was forged late last week in General Santos City.
“Manny doesn’t want it (to be known),” said Gacal.
Told about Salud’s statements that came out on Wednesday, Gacal was not amused.
“Wakee was not around (when the deal was made),” said Gacal.
