Negotiations for a Dec. 6 fight between Oscar De La Hoya and Manny Pacquiao has reached a standstill but Golden Boy Promotions (GBP) and Top Rank are still optimistic a deal could still be made.
Top Rank chief Bob Arum told the Bulletin yesterday afternoon that the two-hour meeting “was very productive (although) nothing is resolved.”
“Hopefully, we get something resolved next week,” said Arum, who politely declined to point out the bone of contention in the negotiations aimed at bringing Pacquiao and De La Hoya to the MGM Grand Garden Arena in Las Vegas.
“We made progress (but) we are still apart. Hopefully, we can bridge the gap,” said Arum.
GBP Chief Executive Officer Richard Schaefer also said that “basically the open points came down to weight, size of gloves (8 oz or 10 oz) and the overall percentage split.”
“Bob and I laid the foundation to get a deal done but now it will be up to Manny and Oscar. Both fighters will have to give in a bit on the various points and find a compromise. My understanding is that Bob will talk to Manny once he is back from Bejing and I will talk to Oscar once he is back from Puerto Rico sometime next week,” said Schaefer, who was given specific instructions by De La Hoya to make the fight happen.
“In the end it will not be Bob and I who will enter the ring but Oscar and Manny. If they can not be satisfied with the deal then both will have no choice but to move on and look at other options. It is not up to Bob and me anymore but rather up to the fighters. The deal on the table would ensure a career high payday for Manny,” he said.
The meeting took place at the GBP offices in Los Angeles and Schaefer earlier told ESPN.com that “the fact that we had a two hour-plus meeting is obviously a good sign. If it had been a five-minute meeting it would indicate the gaps are too big.”
“We met and there are some issues, but it was a good meeting. I think what it will take is for Manny to give and for Oscar to give to get a deal done. That?s pretty much what it is,” Schaefer said.
“What Bob needs to do is talk to Manny and I need to talk to Oscar. But this was a good first step. We had a very good, a very cordial meeting. We talked about a lot of things.”
Even though he and Schaefer failed to reach an accord, Arum remains upbeat about the chances of making the fight happen.
“I think both sides want to make a deal,” said Arum, who should be talking with Pacquiao within the week to update the fighter about the outcome of the meeting.
Arum earlier told ESPN: “Richard and I can make a deal, but we are not the guys doing the fighting. It?s going to be up to the fighters. There will have to be movement on both sides. Hopefully, there will be movement. We want to make a deal, Richard and I. Whether it can be made or not, I don?t know. It will take give and take on both sides, like in any negotiation.”
Without being too specific, Arum said the revenue-sharing between the two boxers is the thing that prevented them from coming out with an official announcement.
“We are working essentially on the split.”
“If both guys are willing to give, Bob and I have laid the foundation and the groundwork under which a deal can be done,” Schaefer added.
In the event negotiations bog down, Arum said Pacquiao will face Humberto Soto of Mexico in a defense of the Filipino?s World Boxing Council lightweight title on Nov. 1 at Planet Hollywood in Las Vegas.
