The action in the ring in the fight between Floyd Mayweather and Manny Pacquiao might not have lived up to the hype, but the so-called Fight of the Century destroyed every single boxing financial record in the history of the sport. Showtime Networks, HBO, Top Rank and Mayweather Promotions announced jointly on Tuesday that the bout generated more than 4.4 million pay-per-view buys, shattering the previous record of 2.48 million for Mayweather versus Oscar De La Hoya in 2007.
PPV revenue will likely clock in around $425 million based on the standard-definition price of $90 and hi-def cost of $100 (people tend to pick the HD option). It is almost triple the previous record of $153 million for Mayweather versus Canelo Alvarez in 2013. The live gate for the fight was another record at $72 million, compared to $20 million for Mayweather-Alvarez. Closed circuit sales also set a record with nearly 46,000 admissions sold at MGM Resorts MGM -1.4% properties in Las Vegas. Total revenue for the bout should top $550 million when you fold in record sales for sponsorships, merchandise and foreign TV rights, crushing the old record of $200 million.
Floyd Mayweather and Manny Pacquiao will receive career-high paydays for their May 2 bout. (Photo: JOHN GURZINSKI/AFP/Getty Images)
Mayweather said before the fight he would make $200 million for his 36 minutes of work in the ring, and he likely will once all the PPV money comes in (cable providers are notoriously slow in sending their cut). Mayweather said pre-fight each of his four children would receive $50 million, although the IRS no doubt will want its share. Mayweather has been known to exaggerate his paydays, like when he claimed he?d receive $70 million for his first Marcos Maidana fight and his actual take was basically his $32 million guarantee. But in this case, it looks like Mayweather was close in his prediction. Mayweather was entitled to 60% of the purse with Pacquiao receiving the remaining 40%. Pacquiao is looking at a payday of at least $130 million.
It will be a record night of earnings for both fighters. Mayweather?s previous biggest paycheck was roughly $73 million for his fight against Alvarez. Pacquiao earned $30 million for his third fight against Juan Manuel Marquez in 2011.
