Bob Arum, whose promotional rights to Manny Pacquiao is being disputed by Oscar de la Hoya, on Monday called Golden Boy’s reported cash deal to Pacquiao last year as “unprofessional and inappropriate.”
“Come on, give me a break. What legitimate business person pays someone with 12,500 $20 bills in a suitcase?” said Arum in an interview with DogHouseBoxing.com.
Freddie Roach, Pacquiao’s trainer, recently disclosed that the Golden Boy Promotions lured Pacquiao into signing a multi-fight contract by delivering to him a suitcase stuffed with $250,000 in cash as a signing bonus at a Beverly Hills steakhouse last September.
But while the GBP camp maintained that there is nothing illegal about paying money that is properly accounted for to a contracted employee, Arum was quoted in the LA Times calling the Golden Boy-Pacquiao exchange “unprofessional and inappropriate.”
Both Arum’s company and De La Hoya’s are fighting out promotional rights to Pacquiao in court. Both firms are said to have valid contracts with Pacquiao.
Richard Schaefer, acting on behalf of Golden Boy Promotions, has denied any wrong doing and promised to go after anyone in a court of law who says otherwise.
“We would never engage in any illegal acts, and if there is anyone who is accusing us of illegal acts, we will go after them in court to the full extent of the law,” said Schaefer.
“What form of payment Manny Pacquiao received doesn’t matter, as long as it’s not an illegal action. And it wasn’t,” he added.
Also, according to Roach, Arum also gave Pacquiao money to sign with his firm, Top Rank Inc. Roach is on record in the LA Times, quoted saying: “Arum gave Manny $1 million in cash right after Manny’s (December) birthday.”
Roach added: “I don’t know if it was wired to him, or given to him in person, but Manny told me when it happened, ‘I got a million in cash.’ “
Arum, however, has debunked the claim, insisting it is not true.
“It’s not true. I’ve never given Manny five cents in cash. We never pay in cash. Freddie’s lying, he’s absolutely lying.”
He added: “Manny got a $500,000 check from us, and another $500,000 check to pay back Golden Boy.”
