Pacquiao earns P1B from Cotto fight
MANILA – Boxing superstar Manny Pacquiao will end up making $22 million or P1.03 billion for his 12th-round demolition of Puerto Rican Miguel Cotto last week.
Top Rank promoter Bob Arum gave the new figure to ESPN.com after cable giant Home Box Office (HBO) said that the Pacquiao-Cotto “Firepower” generated 1.25 million pay-per-view (PPV) buys for a total worth of $70 million.
Despite losing his World Boxing Organization (WBO) welterweight crown to Pacquiao, Cotto is estimated to receive $12 million for the fight.
The Firepower match was the third straight “blockbuster pay-per-view fight” for Pacquiao, who also scored 1.25 million PPV buys for his 8th-round beating of Oscar de la Hoya in December 2008, and 830,000 buys for his 2nd-round knockout of Ricky Hatton in May.
The Pacquiao-Cotto fight also generated a live gate of $8,847,550 from an official crowd of 15,930, according to the Nevada State Athletic Commission.
The 12th-round technical knockout (TKO) by Pacquiao marked his seventh world title in as many different weight classes.
However, Pacquiao's legal counsel Jeng Gacal said his client's earnings are still subject to cuts such as taxation and other fees.
"Kung anong nababasa nyo sa dyaryo, hindi yun ang income ni Manny. Una, kailangan nya magbayad ng tax sa Amerika so less 30 percent sa Amerika. And then he has to pay his coach, na alam naman nating 10 percent, so that's already 40 percent. May iba pang gastos sa mga tao," said Gacal.
PPV numbers ups urgency for Pacman-Floyd The PPV numbers upped the urgency for all parties to get together for a clash between Pacquiao and Floyd Mayweather Jr., whose bout against Juan Manuel Marquez generated 1.05 million pay-per-view purchases in September.
Arum said a Pacquiao-Mayweather match will add to the resurgence of interest in the sport.
"The way I look at it now, boxing is really on a roll," Arum said. "We would be idiots now to slow the momentum, and the only way we can keep the momentum is to make this fight."
Pacquiao said Saturday that negotiations for his possible fight against Mayweather have already started.
"Nag-uusap na sila nina Bob Arum at Mayweather promoter. Nag-uusap na sila (Bob Arum and Mayweather's promoter are now talking)," Pacquiao said in a phone interview with Vice-President Noli de Castro over radio dzMM.
Pacquiao, who arrived in General Santos City on Saturday, said he will be informed about the results of the initial talks next month.
The Filipino boxer said earlier his camp was not trying to force a fight with Mayweather. He said that he would have to wait for a challenge from former pound-for-pound king before going into formal talks for their fight.
Pacquiao also boasted that his fights score more on pay-per-view.
Coach Freddie Roach earlier said they would have to engage in very tough negotiations with Mayweather because the American boxer believes he is the attraction and deserves more money.
Roach, however, pointed out that Pacquiao has all the leverage in the possible match-up because of his boxing style, which brings in more viewers. With reports from Joseph Pimentel, ABS-CBN North America News Bureau, and Agence France-Presse
MANILA – Boxing superstar Manny Pacquiao will end up making $22 million or P1.03 billion for his 12th-round demolition of Puerto Rican Miguel Cotto last week.
Top Rank promoter Bob Arum gave the new figure to ESPN.com after cable giant Home Box Office (HBO) said that the Pacquiao-Cotto “Firepower” generated 1.25 million pay-per-view (PPV) buys for a total worth of $70 million.
Despite losing his World Boxing Organization (WBO) welterweight crown to Pacquiao, Cotto is estimated to receive $12 million for the fight.
The Firepower match was the third straight “blockbuster pay-per-view fight” for Pacquiao, who also scored 1.25 million PPV buys for his 8th-round beating of Oscar de la Hoya in December 2008, and 830,000 buys for his 2nd-round knockout of Ricky Hatton in May.
The Pacquiao-Cotto fight also generated a live gate of $8,847,550 from an official crowd of 15,930, according to the Nevada State Athletic Commission.
The 12th-round technical knockout (TKO) by Pacquiao marked his seventh world title in as many different weight classes.
However, Pacquiao's legal counsel Jeng Gacal said his client's earnings are still subject to cuts such as taxation and other fees.
"Kung anong nababasa nyo sa dyaryo, hindi yun ang income ni Manny. Una, kailangan nya magbayad ng tax sa Amerika so less 30 percent sa Amerika. And then he has to pay his coach, na alam naman nating 10 percent, so that's already 40 percent. May iba pang gastos sa mga tao," said Gacal.
PPV numbers ups urgency for Pacman-Floyd The PPV numbers upped the urgency for all parties to get together for a clash between Pacquiao and Floyd Mayweather Jr., whose bout against Juan Manuel Marquez generated 1.05 million pay-per-view purchases in September.
Arum said a Pacquiao-Mayweather match will add to the resurgence of interest in the sport.
"The way I look at it now, boxing is really on a roll," Arum said. "We would be idiots now to slow the momentum, and the only way we can keep the momentum is to make this fight."
Pacquiao said Saturday that negotiations for his possible fight against Mayweather have already started.
"Nag-uusap na sila nina Bob Arum at Mayweather promoter. Nag-uusap na sila (Bob Arum and Mayweather's promoter are now talking)," Pacquiao said in a phone interview with Vice-President Noli de Castro over radio dzMM.
Pacquiao, who arrived in General Santos City on Saturday, said he will be informed about the results of the initial talks next month.
The Filipino boxer said earlier his camp was not trying to force a fight with Mayweather. He said that he would have to wait for a challenge from former pound-for-pound king before going into formal talks for their fight.
Pacquiao also boasted that his fights score more on pay-per-view.
Coach Freddie Roach earlier said they would have to engage in very tough negotiations with Mayweather because the American boxer believes he is the attraction and deserves more money.
Roach, however, pointed out that Pacquiao has all the leverage in the possible match-up because of his boxing style, which brings in more viewers. With reports from Joseph Pimentel, ABS-CBN North America News Bureau, and Agence France-Presse
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