Manny Pacquiao In Talk for 2-year, $75M Extension with Top-Rank
By Lou Ramon Aguila | May 1, 2014 9:54 PM EST
Manny Pacquiao is reportedly in negotiation with Top-Rank promotions for a five-fight deal that would take him through 2016 - the year the Filipino boxing champ is expected to retire.
Dan Rafael of ESPN UK reported that the eight-division world champion is indeed in talks with Top-Rank head honcho Bob Arum about coming up with a possible contract extension.
Reuters - Joe Camporeale-USA T
Apr 12, 2014; Las Vegas, NV, USA; Manny Pacquiao celebrates his victory over Timothy Bradley (not pictured) after their WBO World Welterweight Title bout at MGM Grand Garden Arena. Pacquiao won via unanimous decision. Mandatory Credit: Joe Camporeale-USA TODAY Sports
"Yes, we are talking about the extension," Arum told ESPN. "We are working it out. We are talking about a lot of things. How many fights would be in Macau, how many would be in the United States, how many in other places. But we are talking about five fights."
Pacquiao, who has become a global sporting icon and earned millions of dollars under Arum's promotion, could earn $75 million with a potential two-year new deal with Top-Rank, according to Karceno of Boxing Socialist.
Michael Koncz already confirmed the ongoing negotiation between Pacquiao and Arum but insisted they are going to explore other options, incase both parties failed to work out a new deal.
"I have had conversations with Bob about an extension, but nothing has been finalised," Michael Koncz, Pacquiao's adviser, told ESPN. "Do we fight again this year or take some time off and fight next year? There are a lot of things to work on, but the new agreement we are discussing would entail five fights. That's our intention, barring injury."
Koncz, the Canadian adviser of Manny Pacquiao, also added that their decision will not be dependent on the possibility of fighting Floyd Mayweather Jr.
"I don't believe Floyd not fighting us has to do with Bob," Koncz said. "Why did he wait until he exhausted all other excuses before saying he wouldn't fight Manny if Bob was involved?"
"First he brought up the drug testing [during the initial 2009 failed negotiations]. Then he wanted Manny to sign with him. Then he wanted to pay Manny only a flat fee of $40 million for the fight instead of sharing a percentage [of the revenue], and now he can't fight Manny because Bob would be involved?"
"Why did he wait so long to bring that up? If that's true, why not use that excuse a few years ago?"
Pacquiao is coming off a 12-round unanimous decision win over Timothy Bradley to reclaim the WBO Welterweight Championship last April 12.
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