Will it go against the government?s policy on austerity?
The intended hosting of Manny Pacquiao?s next fight in Manila is going to entail a ?huge amount? that boxing insiders believe the government involvement with the project is inevitable.
But the P28 million Pacquiao is expected to earn from the fight may be less than half of the total estimated cost to hold the event, that could shoot up to P84 million ($1.5 million).
According to a local boxing manager, prize money alone can float around the P56-million mark.
If the proposal to hold the fight between Pacquiao and Guyanese fighter Gairy St. Claire at the Global City in Taguig pushes through, the cost could easily surpass P84 million because of ?structural considerations.?
The Global City proposal is likely to hold the Pacquiao-St. Claire bout outdoors and the need to build a boxing venue that can contain an estimated crowd of ?at least? 20,000 will be a primary concern.
According to Moy Lainez, senior member of Team Pacquiao, Taguig Mayor Freddie Tinga has expressed his willingness to be ?actively involved in the fight.?
Boxing aficionados admit that no private corporation?singularly or collectively?will shoulder the amount primarily because the proposed December date is too close to the Christmas season, a time when most corporations have already set their financial priorities.
The only hope then to make the mega-buck fight possible is the government?s involvement by directly funding majority of the event or influencing the private sector to shell out money.
Reports have speculated the potential role the President?s husband Mike Arroyo will play in such scenario.
But, as of press time, no one from the Pacquiao group has received any message from any concerned party.
?It may have to do with the fact na wala pa kasing sure na deal,? Lainez revealed. ?I myself, until I see Manny and St. Claire sign on the dotted line, nothing is final.?
Rod Nazario, Pacquiao?s business manager, and Murad Muhammad, Pacquiao?s US-based promoter, are expected to arrive next week and announce details of the proposed fight.
Regarding the effects of the fight cost to the administration?s policy on austerity, boxing experts believe that hosting the Pacquiao fight will do more good than harm.
?Staging world-championship fights headlined by someone as iconic as Pacquiao, it tells the world about how safe the country is not only from an economic standpoint but from a security perspective as well,? said one veteran boxing announcer.
According to veteran fight promoters, ringside tickets to the Pacquiao event can fetch at least P10,000.
