Pacquiao to get at least $15-M for Mosley fight

The fight between boxing superstar Manny Pacquiao and Sugar Shane Mosley is officially on after the Filipino ring icon formally signed the contract for the May 7 bout at the MGM Grand in Las Vegas. The early evening newscast 24 Oras was the first to break the news Tuesday. The fight had been announced even before Christmas, although no formal signing was made. Details of the contract were not made available, although as in his last fight against Mexican Antonio Margarito, the 32-year-old ring icon is guaranteed to receive $15 million or around P660 million (based on the current rate of P44-$1) as his fight purse. “No lower than $15 million," said Pacquiao chief-of-staff Atty. Franklin Gacal. Of course Pacquiao also expects to get a major share of the pay-per-view buys, which could then up his net gain to about $20 million (P880 million). Top Rank chairman Bob Arum mentioned that Mosley, 39, is assured of a $5 million guaranteed prize purse, although his share in the pay-per-view sales is expected to help surpass his biggest career earnings in a single fight, which was $7 million for last year’s non-title showdown with Floyd Mayweather Jr. As earlier agreed upon, Arum said Mosley is assured of a $5 share per pay-per-view buy of above 500,000. With Top Rank looking at reaching pay-per-view buys of 1.2 million, Mosley is likely to earn as much as $8.5 million. Fights involving Pacquiao in the last two years have not drawn pay-per-view buys lower than 700,000, which was the number gained by his March title defense of his World Boxing Organization (WBO) welterweight title against Joshua Clottey of Ghana. His World Boxing Council (WBC) super-welterweight championship match with Margarito attained 1.15 million in pay-per-view buys. The promotional hype for the 12-round bout kicks off in February with a three-city press tour. Arum said both Pacquiao and Mosley are set to make stops in Los Angeles, New York and Washington, where the Filipino congressman hopes to have an audience with U.S. President Barack Obama, a close friend of Senate Majority leader Harry Reid of Las Vegas. Pacquiao helped Reid in his election campaign last year. The official press conference of the fight will be held in San Francisco, Arum added. - KY, RCJ, GMANews.TV