Boxing News 2014: Pacquiao Camp Losing Patience Over Algieri’s Reply, At Risk Losing 7-Digit Guaranteed Purse; Algieri Finds $1.5M Offer Low Since He Is No Longer an Unknown Boxer

  • Rate this Story
  • 0
  • 0

By Vittorio Hernandez | July 15, 2014 8:39 AM EST

Because junior welterweight champion Chris Algieri is taking too long to decide on the offer of eight-division title holder Manny Pacquiao to be his opponent in the ring on Nov 22 in Macau, he risks losing a seven-digit guaranteed purse and a shot at fame and glory.

REUTERS
Boxer Manny Pacquiao of the Philippines waves to fans from a ring in the lobby of the MGM Grand Hotel and Casino in Las Vegas, Nevada April 8, 2014. Pacquiao will challenge undefeated WBO welterweight champion Timothy Bradley of the U.S. at the MGM Grand Garden Arena on April 12. The fight is a rematch to a June 9, 2012 fight that Bradley won. REUTERS/Steve Marcus

Joe DeGuardia, Algieri's promoter, told the Daily News on Sunday that Pacquiao's camp gave the 30-year-old boxer just one more day to decide. Otherwise, Pacquiao's promoter, Bob Arum, will withdraw the offer, DeGuardia disclosed.

He said, "It's the opportunity of a lifetime. I need to know his answer. It's been a week. No one has told me anything about needing more money. Hopefully he comes to his senses but if I don't hear anything [by Monday] we'll likely lose the offer."

Read:

Boxing News 2014: Web Site Criticises Pacquiao's Selection of Algieri as Nov 22 Opponent, Calls Filipino Champ 'Cherry Picker'

Boxing News 2014: Manny Pacquiao Camp Offers Slot to Chris Algieri for Nov 22 Macau Fight

Boxing News 2014: Expert Says Pacquiao Will Beat Whoever He Fights in 2015

But Newsday said that Algieri is not happy with the $1.5 million offer plus a percentage of pay-per-view sales, based on its interview with the American boxer at a sporting goods store in Huntington Station on Saturday. Newsday quoted Algieri as saying, "I took a calculated risk with the Ruslan fight and took short money because of that reason. I was really unknown at that point. I'm not an unknown anymore."

He added, "If we're going to make this fight happen, I value myself and my health very highly. I just want what I deserve."

The highest purse that Algieri received in his 20-fight career is $100,000 when he won over Ruslan Provodnikov and acquired the title WBO junior welterweight which is not at stake if he loses to Pacquiao.

DeGuardia said that Algieri has issues over blood testing and tax implications by fighting in China, but those issues had been settled since VADA agreed to handle the drug testing. The promoter expressed disappointment at the turn of events and blames the boxer's lawyer, Eric Melzer, for giving Algieri the wrong advice.

One possible reason behind Algieri's hesitation is despite Pacquiao being labeled by some boxing experts as having slowed down compared to two years ago when he knocked out all his opponents in succession, the Filipino southpaw still delivers a strong punch which would be no match to his paltry boxing record in comparison to Pacquiao's.

YouTube/Koncrete Jungle

The guaranteed purse for previous Pacquiao opponents was $1.5 million for Joshua Clottey in 2010, $4 million for Brandon Rios in 2013 and $6 million each for Timothy Bradley in 2014 and Juan Manuel Marquez in 2012.

However, Algieri's possible mistake may be Provodnikov's gain since the Russian boxer is reportedly high on Pacquiao's short list of opponents.

Read:

Boxing News 2014: Mayweather Ditches Barclays Center in Favour of MGM Grand, Golden Boy Is Still Promoter of Sept 13 Rematch With Maidana

Boxing News 2014; Like Pacquiao, Mayweather Could Be Hit by IRS If He Pushes With New York Licence for Maidana Rematch

Boxing News 2014: Mayweather's Sept 13 Bout vs Maidana Possibly to be Held in New York

Boxing News 2014: Mayweather Goes for a Rematch With Maidana on Sept 13

Boxing News 2014: Another Mayweather Douses Cold Water on Pacman-Money May Bout

Boxing News 2014:  Justin Bieber Saves Kids of Floyd Mayweather in Car Accident While Boxer Was at BET Awards

Boxing News 2014: Mayweather Buys $70,000 Worth of Jewellery for GF Bad Medina's Use at BET Awards; Attempts to Confront Tiny at Red Carpet

To contact the editor, e-mail:

(Photo: REUTERS / Steve Marcus)
Boxer Manny Pacquiao of the Philippines waves to fans from a ring in the lobby of the MGM Grand Hotel and Casino in Las Vegas, Nevada April 8, 2014. Pacquiao will challenge undefeated WBO welterweight champion Timothy Bradley of the U.S. at the MGM Grand Garden Arena on April 12. The fight is a rematch to a June 9, 2012 fight that Bradley won. REUTERS/Steve Marcus
  • Rate this Story
  • 0
  • 0
This article is copyrighted by IBTimes.com.au, the business news leader

Join the Conversation

IBTimes TV
E-Newsletters

We value your privacy. Your email address will not be shared.