All?s well that ends well.
Consensus world featherweight boxing champion Manny Pacquiao yesterday signed a 2-fight deal that sets the stage for his rematch against Juan Manuel Marquez on Feb. 26 and a likely pay-per-view duel with Erik Morales in July.
Pacquiao earlier declined to sign the two-page contract because of a clause specifying a “credible opponent” as a substitute for Marquez in case the Mexican backs out of the fight which will be held in either Reno or Las Vegas. Pacquiao was concerned that if Marquez withdraws for whatever reason, he may not be paid the $900,000 purse for taking on a replacement.
But New Jersey promoter Murad Muhammad has assured Pacquiao there will be no reduction of the purse if Marquez pulls out. He explained the 2-fight arrangement is necessary to lock in the HBO (Home Box Office) network.
The contract also stipulates a $1.75 Million purse for Pacquiao to meet Morales in July.
To reassure Pacquiao, Muhammad changed the wording in the contract from a “credible opponent” to an “opponent acceptable to HBO.” The change, in effect, binds HBO to pay Pacquiao a $900,000 purse to fight Marquez or a substitute approved by the network.
The contract was delivered to Pacquiao by his business manager Rod Nazario in General Santos City last week. Pacquiao told Nazario he would study the contract before deciding whether or not to sign it.
Nazario flew back to Manila from General Santos City last Saturday without the contract which he left behind with Pacquiao.
After agreeing to ink the contract yesterday, Pacquiao?who is in Davao City?faxed the signed documents to Nazario.
A source said Pacquiao was advised by his wife Jinkee?s uncle, Fiscal Jamora of General Santos City, in studying the contract. The same source denied an allegation that the contract stipulated a reduction in Pacquiao?s purse if Marquez is replaced.
Muhammad said there are other promoters bidding to book fight dates in HBO?s calendar but he beat them to the punch.
Muhammad couldn?t understand why there were reports from Manila claiming Pacquiao had lost confidence in him.
“I don?t know why I?m being made to look bad unless there are saboteurs trying to drive a wedge between Manny and me so they can enter the picture,” said Muhammad from his New Jersey home. “I?ve made Manny the richest Filipino athlete ever and I?m in the process of making him even richer. The Philippines is my second home. I have a special place in my heart for Filipinos. This goes beyond Manny.”
Last March, Muhammad was awarded the rights to promote four more US fights for Pacquiao with a minimum guaranteed purse of $500,000 each. The assignment of rights was the subject of a contract extension signed by Pacquiao, Nazario and Muhammad. The first fight in the extended contract was the Marquez outing in Las Vegas last May. Muhammad had previously promoted Pacquiao?s bouts against Lehlo Ledwaba, Agapito Sanchez, Jorge Eliecer Julio, Emmanuel Lucero and Marco Antonio Barrera.
Muhammad?s 4-fight arrangement is considered the “mother contract” to the 2-fight deal which is only an addendum. The “mother contract” does not name Pacquiao?s opponents, thus necessitating the addendum to detail the specifics.
“Muhammad could?ve set Manny?s purse only up to $500,000 but he?s offering $900,000 for the Marquez rematch and $1.75 Million for Morales,” said a Pacquiao insider. “I don?t think that?s bad at all.”
HBO vice president for sports Kery Davis confirmed there are bidders out to grab fight dates but he is committed to Muhammad.
“HBO is dealing with Murad, not Manny,” said the insider. “There is no way any other promoter can represent Manny at least in his next three US fights. But why entertain other promoters? Manny would never have gone this far without Murad.”
Pacquiao is expected to leave for Los Angeles on Jan. 5 and start training for Marquez in Freddie Roach?s Wild Card Gym early January.
