KEITH Kizer, the executive director of the Nevada State Athletic Commission, set the record straight in terms of the fight purses of pound-for-pound king Manny Pacquiao in his last three fights, including his “Fire Power” showdown with dethroned World Boxing Organization welterweight champion Miguel Cotto.
Kizer informed www.insidesports.ph, Standard Today and Viva Sports that Pacquiao’s guaranteed purse for the Cotto fight was $7.5 million, not $13 million as indicated in the wire stories, in the wake of conflicting reports on the Filipino’s guaranteed purse. Cotto’s purse was $4 million.
This means that if the net revenues from pay-per-view income (after all deductions for distribution, marketing and other expenses are made) is more than the combined guaranteed purses of both fighters, then the two fighters split the difference based on the agreed percentages in the contract regarding PPV income.
With Top Rank promoter Bob Arum’s estimate of pay-per-view numbers at anywhere between 1.2 to 1.5 million, then it would mean PPV gross revenues of anywhere between $60 to $75 million.
But the fighters will be entitled to a share of the income only after all expenses are deducted and the sharing will be based on the split agreed upon in the fight contracts.
When Pacquiao fought Erik Morales for the first time, he was paid a guaranteed purse of $1.75 million by Arum and his promotional partner for that fight, Murad Muhammad, and was not entitled to a share of the pay-per-view income, neither was Morales.
Kizer also told Standard Today that Pacquiao’s guarantees for the Oscar de la Hoya fight was $6.6 million and for the fight against Ricky Hatton, his paycheck was $7.4 million.
‘Parangal Kay Manny sa Luneta’
Meanwhile, President Gloria Arroyo had designated Philippine Sports Commission chairman Harry Angping to lead the welcoming ceremonies for Filipino boxing icon Manny Pacquiao.
The ceremonies, entitled “Parangal Kay Manny sa Luneta,” will be held at 3 p.m. today. The event will be held in collaboration with the Philippine Charity Sweepstakes Office, the Department of Public Works and Highways, the Metro Manila Development Authority and the Office of the President.
Earlier today, Pacquiao is expected to receive a red-carpet welcome from the Department of Environment and Natural Resources when he comes home from Las Vegas.
Environment Secretary Joselito Atienza said the department has prepared to receive the boxing hero who captured the World Boxing Organization welterweight title of Miguel Cotto—his seventh in as many divisions.
Pacquiao is scheduled to arrive today at the Ninoy Aquino Centennial Terminal (terminal 2) at 5:30 a.m. and will be fetched by Atienza.
