Boxing News 2014: Chris Algieri Agrees to Fight Manny Pacquiao on Nov 22 in Macau

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By Vittorio Hernandez | July 17, 2014 10:27 AM EST

New WBO junior welterweight title holder Chris Algieri accepted the offer of eight-division title holder Manny Pacquiao to fight him in the latter's defense of his WBO welterweight belt on Nov 22 at the Cotai Arena in Macau.

Reuters
Manny Pacquiao of the Philippines hits undefeated WBO welterweight champion Timothy Bradley of the U.S. with a right during their title fight at the MGM Grand Garden Arena in Las Vegas, Nevada April 12, 2014

"We have a deal. On my end, it wasn't a hard deal at all. I came up pretty much with what they were looking for and then [Algieiri's promoters] had to sit down with Algieri and cut it up fairly amongst themselves," Top Rank Promotions boss Bob Arum told ESPN.

Algieri initially dilly-dallied in his decision to accept or reject the offer, but Pacquiao's camp gave him an ultimatum to decide or lose the opportunity to earn at least $1.5 million, which is 150 times the $100,000 guaranteed purse he got when he won against Ruslan Provodnikov on June 14 at Barclays Center in New York.

Algieri initially found the amount quite small, probably in comparison to at least $20 million guaranteed purse for Pacquiao, accepting a reality in boxing that big-name boxers get the lion's share of the fight revenue.

Read: Boxing News 2014: Mayweather Expects $70 Million Purse from May 3 1st Bout With Maidana, While Argentinean Boxer Pockets Measly $1.5 Million Plus PPV Sales Share

The 30-year-old Algieri has a 20-0 fight record with eight knockouts, is a former kickboxing champion and has a master's degree.

Amid speculations that the Macau fight with a relatively unknown boxer would not generate high pay-per-view buys, Arum said that the fee The Venetian pays to have Pacquiao pick their place as venue for the fight is enough to fill up the anticipated lower PPV buys.

His last fight in Macau versus Brandon Rios generated 450,000 PPV buys, while his bout against Timothy Bradley got 750,000 PPV sales.

In a statement, Algieri said, "I wanted this fight. This will change my life once again and I welcome the future. All of Team Algieri is excited for this fight."

Pacquiao is highly expected to win the fight, while Algieri will surely get higher guaranteed purses in future bouts whatever is the result of his match with the Filipino congressman.

Read:

Boxing News 2014: Freddie Roach Accuses Juan Manuel Marquez of Using Steroids

Boxing News 2014: Pacquiao Camp Losing Patience Over Algieri's Reply, At Risk of Losing 7-Digit Guaranteed Purse

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

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

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(Photo: Reuters / Steve Marcus)
Manny Pacquiao of the Philippines hits undefeated WBO welterweight champion Timothy Bradley of the U.S. with a right during their title fight at the MGM Grand Garden Arena in Las Vegas, Nevada April 12, 2014
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