“PAC-MAN” NOW A FREE MAN
Last Tuesday, the New York District Court ordered that since a settlement has been reached between Manny Pacquiao and promoter Murad Muhammad, all charges by both parties be dropped. In other words, both Pacquiao and Muhammad admit no guilt whatsoever because the verdict was never read. Although the specific amount Murad will pay Manny can’t be release, what the public does know is that Manny, who originally signed a contract exactly four years ago, has been released from his “air-tight” contract with Murad. Besides the money issues, which are almost impossible to prove, Pacquiao got what he initially wanted, which was to be out from a promoter he didn’t trust.Until boxing fans can get full disclosure of the settlement, we can only go on what’s been released by the parties involved. Dubbed a “technical knockout,” suffice to say it’s a win on points for Pacquiao. Although Manny is a free agent and he will be paided his legal fees, it’s unknown how much he actually got from Murad. The money paid to Pacquiao could be anywhere from one dollar to two million dollars, an amount which was held by Top Rank after the Pacquiao-Erik Morales fight of March.
MURAD MOVES ON, OR DOES HE?
So since we don’t know the actual amount Manny will get from Murad, he can move on and continue to promote. He won the purse bid to promote the In Jin Chi vs. Rocky Juarez match, which will be on an undercard bout on HBO featuring Fernando Vargas. Because of the settlement, Murad can continue to call himself a miracle maker and continue to possibly be successful in the boxing industry. What he has lost is the biggest prize fighter he’s had since Roy Jones. Pacquiao’s PPV match generated more buys that Floyd Mayweather’s bout last week. It’s not outrageous to say that a fight with Marco Antonio Barrera, Erik Morales, or Juan Manuel Marquez would be a multi-million dollar encounter. Now Murad has to start all over like he did before he signed Pacquiao, but hey, he gets a second chance some people feel he doesn’t deserve.
DEAL WITH NAZARIO THE ULTIMATE FACTOR
Along with “Muhammad Ali Act” violations, Pacquiao also charged Murad of breaching the contract, hiding true purse amounts, and not withholding Manny’s taxes. Although attorneys for Pacquiao presented a great argument about Murad’s failures as a promoter, what really buried Murad was the co-promotional agreement that we broke here at www.RingTalk.com with former business manager, Rod Nazario. That agreement clearly violated the Federal law and the Muhammad Ali Act, and it couldn’t be argued away by Murad’s defense team. Nazario clearly paid both sides, although he’d like to consider himself more of a promoter than a manager. He co-promoted Manny’s fights in the United States, at the same time signing Manny’s promotional agreements with Muhammad as the manager. Now, Nazario can claim he was signing the agreement for Marty Elorde, who was the manager, since Elorde and Nazario had written clause stating Nazario can sign on behalf of Elorde. Either way, the agreement itself was the evidence that probably forced Murad to settle.
IT’S NOT OVER FOR MANNY JUST YET
The bad news for Pacquiao is that his distractions are far from over. Waiting for him when he returns to the Philippines is the media hounding him, Nazario making legal noise, finding a new promoter, and dealing with Sydney Hall and Marty Elorde, who are both suing him.
AS FOR NAZARIO, HE WON’T GO QUIETLY
Hardly speaking to any media, Rod Nazario publicly came out and declared his innocent against all accusations that Pacquiao has made. His statements include photo evidence that it was him who was telling the truth not Manny, and possibly suing him in the Philippine Courts. The Games and Amusement Board (GAB) has stated that they will fully look into any case between Nazario and Pacquiao. Although the legal justification for a Nazario suit between Manny and Nazario in the Philippines seems vague, the public opinion of their countrymen is really what the two are fighting for. Rod Nazario is the biggest name in the boxing industry and the last thing he wants is his credibility and respect to be flushed down thge drain. Nazario, who probably knows Pacquiao better than anyone, wants to continue to maintain his place in Philippine boxing, as the best promoter. Pacquiao, who admits he feared getting Nazario upset, still needs a business manager because of the many endorsements he receives in the Philippines.
HALL AND ELORDE STILL SUING PACQUIAO
Last Tuesday, former agent and attorney, Sydney Hall, filed a motion in Federal court, asking the court to hold $375,000 for a pending lawsuit he had with Murad Muhammad. Already filed back in 2003, Hall changed Pacquiao’s status from plaintiff to defendant because of Pacquiao’s lack of support with him against Muhammad. Hall was forced to add Pacquiao as a defendant because his contract is with Pacquiao, not Muhammad and Nazario. Marty Elorde has also filed suit against Pacquiao, seeking his 30% of the Erik Morales bout, which was negotiated and publicly announced before his contract ended. Both situations should be settled as soon as possible because since the case was sent down to California State Court (an agent can’t sue a promoter based on the Ali Act, only a boxer can), it will lengthen the case, further distracting Pacquiao.
WILL HALL CASE BE SETTLES AS WELL?
Prior to the new case, attorneys for Pacquiao, Judd Burstein and Keith Davidson negotiated a proposed settlement agreement with Sydney Hall. A San Mateo, CA attorney himself, Hall countered with his own claims, which included a $275,000 minimum payment. Burstein, in an email, stated that Manny would have to earn $3.5 million dollars to compensate Hall’s 7% cut, which were the terms of Hall’s agreement with Pacquiao, and wasn’t to going to pay that much in order to have Hall testify in New York. Hall replies that Burstien essentially used many parts of his case in the New York trial, and was reluctant, at the time, to testify because of his California case with Muhammad. Burstein also added that no such agreement was offered to Elorde. Either way, it’s clear that although Manny Pacquiao is relieved that he’s free from the grips of Murad Muhammad, the distractions of his past will not go away so soon.
QUICK JABS
IBF 130 lb. champ Robbie Peden has officially announced that he will fight in a unification super featherweight bout with Marco Antonio Barrera. In an email he stated, “I will leave for camp in St Petersburg Florida on July 8 where I will remain there until the week of the fight.” The venue of the bout is yet to be determined. Could Golden Boy Promotions make the same mistake choosing Peden as an opponent as they did with Pacquiao?…If I was pressed to make a prediction on who will be Manny Pacquiao’s new promoter, I?€™d say either Bob Arum or Dan Goossen, base on what I’ve heard and what makes sense in the development of Manny’s career. Kevin Kelly is the perfect opponent (foil) for Manny’s comeback fight. Kelly is old and slow, meaning Manny should be able to showcase his skills in a non-threatening match.
