The group that is putting together the scheduled fight between Ring Magazine featherweight champion Manny Pacquiao and World Boxing Organization Intercontinental champion Gairy St. Clair of Australia is reportedly not prepared to put up more than a maximum of $650,000 or about P40 million budget for the Dec. 4 event at the Araneta Coliseum.
This means that there would have to be a reduction in the original purse offers for Pacquiao and St. Clair.
Promoter Murad Muhammad had earlier disclosed that he had $650,000 available from sponsors and indicated that Pacquiao would receive a purse of $500,000 or about P28 million, which would leave $150,000 for the purse of St. Clair and all other expenses involved in putting up the fight.
A top official of Solar Sports, which has a tie-up with Team Pacquiao for the rights to his fights, said if the fighters? purses alone amount to $650,000, it would be ?too much money? that could not be recovered.
The Solar official disclosed that they were ?speaking to the group that?s putting this together? although he declined to identify the group. There have been rumors that First Gentleman Mike Arroyo was involved but there?s been no confirmation of this, neither has the group supposedly involved in staging big-time concerts been identified.
However, socialite Baby Arenas, who is known for bringing in top-flight artists, had some months ago discussed the possibility of a Pacquiao fight in Manila with business manager Rod Nazario although nothing apparently came out of it.
The Solar Sports official indicated that the income to be derived from the gates would reach a maximum of P10 million while the potential income from television would be another P10 million at the most, which indicated a major shortfall. The official said that unless Pacquiao and his handlers, including Muhammad look at a realistic budget, it would be hard to make the fight a reality.
Meantime, Pacquiao?s business manager Rod Nazario told Viva Sports/Manila Standard in an overseas telephone conversation yesterday, ?as soon as I come, I?ll settle everything.? Nazario is scheduled to arrive tomorrow from Los Angeles. Pacquiao himself told Manila Standard yesterday morning that he planned to fly to Manila from his home in General Santos City on Monday to meet with Nazario on the planned Dec. 4 bout against St. Clair and future fights. Pacquiao revealed that he is working out regularly but hasn?t been sparring.
