Top Rank chairman Bob Arum yesterday called Golden Boy’s decision to pull out Marco Antonio Barrera from a rematch against Manny Pacquiao a bluff and said there’s still a chance the fight will push through because it’s good for business.
Richard Schaefer told The Star that Barrera will definitely face Juan Manuel Marquez in an HBO pay-per-view fight on March 17 in Las Vegas and ruled out the option of replacing it with a Pacquiao return bout.
Top Rank chairman Bob Arum earlier said he gave Golden Boy a Jan. 12 deadline to agree to negotiate a Pacquiao-Barrera rematch, a potential gold mine at the turnstiles and on pay-per-view.
But Schaefer refused to deal with Arum, insisting Golden Boy, not Top Rank, has the right to promote Pacquiao by virtue of a contract he signed last September. Arum, however, said Pacquiao was bound by a previous pact not to sign a promotional deal until after the third Erik Morales fight last November, invalidating the Golden Boy contract. Pacquiao then signed a four-year contract with Arum who promised to underwrite all legal expenses in case of a Golden Boy suit. The tug-of-war has resulted in the rival promoters suing each other in court.
“Bob Arum has no valid promotional deal with Manny,” said Schaefer, a former Swiss banker whose nephew Raul Jaimes is de la Hoya’s close friend and Golden Boy executive vice president. “Therefore, he has no business of making us any offers. We informed him in writing that he does not need to wait until Jan. 12 and that his offer is declined.”
Schaefer said a press conference announcing the Barrera-Marquez fight will be held on Jan. 25 in Los Angeles.
“The pay-per-view date is locked in for March 17 and so is the venue,” he continued. “The Nevada State Athletic Commission has been informed of the fight and the date. HBO pay-per-view is finalizing the marketing plan.”
Schaefer lashed out at Arum for “wishful thinking” and pushing Pacquiao to fight inferior opponents in Macau instead of high-caliber champions like Barrera, Marquez or Joan Guzman in Las Vegas.
“Arum does not even have a TV network for Manny’s next fight,” said Schaefer. “Arum has always said Barrera would not fight Marquez. I guess he was wrong, just like he has been wrong in so many other things he told Manny. Or maybe it is just another case of “yesterday, I was lying and tomorrow, I will be lying, too.”
“Arum is full of wishful thinking but in the process, is hurting Manny. If Manny wants to become a global legend, he is certainly not going to achieve that by fighting B or C level opponents in Macau. What Manny needs to do is fighting great fighters like Barrera, Marquez and Guzman in the fight capital of the world — Las Vegas.”
Schaefer said in a personal conversation with de la Hoya, he has been assured of Golden Boy’s support for Pacquiao.
“Oscar is willing to help Manny and put this whole episode behind us,” said Schaefer. “Manny has to stand by the contract he signed first. I am convinced that if Manny does what he knows is the right thing, then he will stand up and say,” enough is enough, I am an honorable person and stand by my contract with Golden Boy.
“I still believe in the good of Manny. I hope for Manny’s sake that eventually, he will hear the truth or recognize who his true friends are. My appeal to Manny is to do the right thing for you, for your fans and for the great sport of boxing.”
Schaefer, 45, was introduced by Jaimes to de la Hoya in 1996 and is widely considered to be the brains behind the rise of Golden Boy Promotions which now manages 47 fighters and is on its fifth year of operations. He was formerly a top executive of the Swiss bank UBS Warburg.
