REPORTS FROM Los Angeles yesterday say that Top Rank and Golden Boy Promotions (GBP) will resume talks on a possible compromise agreement on Monday.
Top Rank and GBP are at loggerheads over Filipino boxing star Manny Pacquiao, who arrives in Manila this morning on board Philippine Airlines flight 103, and based on the outcome of the first meeting between high-ranking officials of both promotional companies on Saturday (Sunday in Manila), there is a chance that they may yet find a win-win solution.
“I can’t talk right now,” Top Rank chairman Bob Arum told Michael Marley of boxingconfidential.com. “But we are done for the day. Mediation will continue on Monday (Tuesday in Manila). That’s all I can say at this time.”
A mediation was ordered by the court after lawyers from GBP completed deposition proceedings on Pacquiao a few days ago in Los Angeles.
“Meeting adjourned,” Pacquiao’s confidant Wakee Salud said yesterday from Cebu.
“That’s a good sign because it only means that they’re listening to each other,” said Salud, who was in Los Angeles when Pacquiao was grilled by GBP lawyers led by top litigator Jeff Spitz.
“This is a welcome development because if both parties don’t meet halfway, it is Manny who’s going to suffer,” added Salud.
If Top Rank and GBP do not agree, the case will go into trial sometime in October.
GBP wants to bring Top Rank to court for tortuous interference in connection with its seven-fight deal with Pacquiao that was signed Sept. 19, 2006 at Morton’s Steakhouse in Los Angeles.
GBP owner Oscar De La Hoya was at LAX airport on that night and even showed Pacquiao a bag containing 0,000 in cash.
Pacquiao then brought his luggage to his apartment at the Palazzo and brought his LA-based friends, Canadian adviser Mike Koncz, Salud, and this writer to Denny’s for a late dinner.
Even before the orders were served, Pacquiao, Gacal, Campos and Ramos drove the Lincoln Navigator that Pacquiao owns to meet up with De La Hoya at Morton’s, leaving Koncz, Salud and Pacquiao’s gang at a loss as to the southpaw’s whereabouts.
Pacquiao signed his name above the dotted line in the presence of Filipino lawyer Franklin Gacal, writer Winchell Campos and Filipino-American Joe Ramos, whose services the boxer has terminated owing to money matters.
Arum said Pacquiao was not legally allowed to sign with any promoter as per a provision on the fight contract that he signed in the third fight with Erik Morales that was promoted by Top Rank.
“It’s not on the contract that Top Rank submitted to the Nevada commission, but Pacquiao and Top Rank has that on another contract,” said somebody privy to the tie-up involving Pacquiao and the Las Vegas-based Top Rank.
“Even De La Hoya is aware that this is the practice of promoters like him,” said the boxing man.
When Pacquiao arrived in Los Angeles at that time, he was to start his training for the Morales rubber match that he won handily on Nov. 18 at the Thomas and Mack Center in Las Vegas.
