Filtered By: Sports
Sports

Top Rank vows to shield Pacquiao from lawsuit


Top Rank Promotions president Bob Arum on Thursday vowed to protect Filipino boxing icon Manny Pacquiao from any lawsuit that could arise from its rival firm Golden Boy Promotions (GBP). Pacquiao is courting lawsuit after he threw out GBP’s contract and chose Top Rank as his promotional outfit. Pacquiao signed a promotional contract with GBP, owned by Oscar De La Hoya, prior to his last fight against Erik Morales last Nov. 18. At a press conference held at the Manila Hotel's Champagne Room, Arum said that his company will shoulder any financial burden that may arise from the Filipino boxer's decision to sign up with them. Arum said that under Pacquiao's agreement with his company, the Filipino fighter cannot sign any contract until after his last fight. "GBP is only seeking money damages from Top Rank and if they win the case, Top Rank will have to pay them. As far as Manny is concerned we have given him a contract that stipulated he is indemnified from any damages in this law suit," said Arum. The American lawyer said that even with the injunction sought by GBP in stopping Pacquiao from fighting in the US next year, the plea cannot stand the scrutiny of the courts. Pacquiao’s new contract with Top Rank stipulates that Pacquiao will only fight twice or thrice a year. Under the Golden Boy Promotions contract, Pacquiao signed an open-ended agreement stating that Pacquiao must fight seven times under their auspices. The contract does not state any time limitation and could last 10 years depending on how many times Golden Boy Promotions could promote Pacquiao's fights. "Top Rank appreciates Manny's action and I promise all the Filipino people what we will do for Manny will be something special. We would like to see him a superstar not only among the Filipinos or Filipinos living in US and Mexico but in the whole world," added Arum. Top Rank, according to Arum, will offer WBC super featherweight champion Marco Antonio Barrera for a fight in April. And because Barrera is under the Golden Boy Promotions, Arum said that they will spice up the offer with a $2.5 million payout and a share in the Pay Per View profit. And to make sure that De La Hoya will grab the opportunity, Arum said that the fight contract will include a stipulation stating that the face-off will not in any way affect the Golden Boy Promotion's lawsuit. "It's a no-lose situation for GBP. We stage the fight and if he wins his case we will pay him for the damages," Arum, who arrived in the country last Tuesday, explained. The American promoted added that Pacquiao will receive $5 million. But if the fight does not push through, Arum said that Pacquiao will fight in Macau this April 28. Arum added that he has already given Pacquiao a list of possible opponents but declined to comment as to who are included in it. -GMANews.TV

LOADING CONTENT