The Manny Pacquiao-Oscar dela Hoya fight is now a done deal although some weighty issues remain to be solved regarding the Dec. 6 showdown that could draw more than $100 million in revenue.
?I have agreed in principle to accept the Dec. 6 fight against Oscar dela Hoya,? said Pacquiao from Gen. Santos City yesterday. He arrived at the final decision at around 11 p.m. Wednesday.
?This is the biggest fight of my life,? he said. Pacquiao, the reigning WBC lightweight (135 lbs) champion, will fight Dela Hoya at 147 lbs. They have both agreed to use 8-ounce gloves for the dream match scheduled at the MGM Grand in Las Vegas.
Pacquiao described the coming fight, the farewell fight for Dela Hoya, as the biggest test of his boxing career, which started 13 years ago when the Pinoy superstar was a gangling, struggling 106-pound fighter.
?This will be the toughest test in my boxing career because of the reach and height advantage of my esteemed opponent aside from his great boxing skills,? added Pacquiao, at 5-foot-6 around four inches shorter.
?This fight, however, will not be a walk in the park for Oscar. The boxing fans will see the same fire and intensity they have witnessed in my previous fights,? said Pacquiao who can earn more than $15 million for this fight.
In his previous fights, even those against the likes of Erik Morales, Marco Antonio Barrera and Juan Manuel Marquez, Pacquiao earned around $5 million each outing. Against Dela Hoya, he gets thrice as much.
?I will frustrate the desire of Oscar to avenge the defeats of the great Mexican boxers who lost to me,? said the 29-year-old Pacquiao who will rely on his power and speed against the 35-year-old legend ready to call it a day.
Negotiations for this fight, actually a brainchild of veteran commentator Larry Merchant, started a month ago but hit a snag when Dela Hoya stood firm in his 70-30 offer to Pacquiao who wanted 40 percent.
No details were given as to the final split of the revenue. What?s important for the moment is that both fighters have agreed to stage the fight that could match or even surpass the existing records in pay-per-view sales.
Reports said Dela Hoya had agreed to a 63-37 split, but neither camp has made a confirmation. The staging of the fight will be formally announced today via a tele-conference put up by Golden Boy, the lead promoter.
After acting as sponsor to a wedding of a friend in Gen. Santos City yesterday afternoon, Pacquiao said he is ?happy and contented? with what was finally laid on the table. He said it?s now time to focus and train for the fight.
Pacquiao?s legal counsel, Franklin Gacal, said the fight contract will be e-mailed to him by Top Rank chief Bob Arum, and after going through the papers, Pacquiao should be ready to put his name on the dotted line.
Gacal, however, said there are a few more concerns like the penalty they?re asking if Dela Hoya goes over the weight limit of 147 pounds. The Pacquiao camp wants more than $750,000 for every excess pound.
?That has yet to be discussed. We?re asking something bigger than $750,000 for every pound,? said Gacal, adding that Pacquiao has the option of signing the contract here or signing it once he get to the US.
Pacquiao plans to start training for the fight in the middle of September. A month ago, he said he?d train for three months if it?s Dela Hoya he?s facing. Dela Hoya said he plans to train four months for his last fight.
The Pacquiao camp had also wanted the weigh-in to be held on the day of the fight although this may be too much to ask for. Dela Hoya said he doesn?t plan to add more than five pounds from the weigh-in to fight time.
Another issue that remains to be solved is the TV network that should bring the fight to the Philippines since Dela Hoya is under contract with ABS-CBN, and Pacquiao with rival station GMA-7 through Solar Sports.
