While the major players remain tight-lipped, the current buzz is that Top Rank and Golden Boy are getting closer and closer toward a settlement of their case involving boxer Manny Pacquiao.
The two promotional giants are in a legal tussle over the rights to the Filipino superstar, and as a result have failed to put up big fights between or among their boxers.
But recent days have shown positive results in a mediation process being handled by retired Judge Daniel Weinstein. A sharing of the promotional rights over Pacquiao is the gist of the talks.
“The talks are going good, real good,” said Top Rank owner Bob Arum, who’s already met with Golden Boy men Richard Schaeffer and Todd duBoef at least thrice this month.
“Things are very delicate. That’s all I can tell you,” Arum told boxingconfidential.com point man Michael Marley Wednesday evening in Los Angeles.
Even Pacquiao’s lips are sealed, although he hinted that he already knows what’s going to happen in the next few days or hours regarding the Top Rank-Golden Boy talks or his next fight.
“Alam ko na. (I already know it),” was all he said yesterday.
Pacquiao’s legal adviser, Franklin Gacal, on the other hand, said a Pacquiao-Barrera fight is “99 percent” on. He did not elaborate.
A settlement between Top Rank and Golden Boy would close the door on a Pacquiao fight against Mexican and Top Rank stablemate Humberto Soto on Oct. 6 in Vancouver.
At the same time, it would open a bigger door on a Pacquiao rematch against former WBC super-featherweight champion and Golden Boy ward Marco Antonio Barrera, also in October.
Arum has repeatedly said that if it’s Barrera, there’d be no other choice but bring the fight to Las Vegas – the gambling capital of the world and probably the biggest stage in boxing.
Los Angeles is an alternate venue of a Pacquiao-Barrera bout. Juan Manuel Marquez, the reigning champion and another Golden Boy boxer, should be next for Pacquiao.
A Pacquiao-Barrera rematch of their 2003 showdown in San Antonio, Texas, which the Filipino won inside 11 rounds, will definitely bring in the fans and the money as well.
Pacquiao and Barrera stand to earn at least $3 million each for a rematch. Top Rank and Golden Boy also stand to earn a lot rather than spend millions in legal fees if the case drags on.
“I think they will settle this and become cooperative co-promoters of Pacman and friendly competitors on all the other boxers they have. But they will settle because the legal bills are out of control.
“Also neither side wants to expose their business practices and secrets in public in front of a jury,” Marley quoted a certain “Mr. In The Know” as saying.
