Pacquiao inks 4-year pact with Top Rank

Moments after sending Mexican fighter Erik Morales to the canvas for the final time in their match, Manny Pacquiao was dangled a blockbuster four-year multi-million dollar boxing deal. No less than Bob Arum, chief executive of Top Rank promotions, purportedly approached Pacquiao and made the offer. Arum is a noted promoter of boxing superfights whose success has been described as rivalling that of Don King. In separate interviews over dzBB radio, veteran sports analysts Al Mendoza and Ronnie Nathanielz both claimed receiving information that Pacquiao agreed to the deal. Nathanielz said he learned about the development from Joaqui Salud, manager of Filipino boxer Jimrex Jaca. "It is the best fight contract a fighter will ever get," Nathanielz said. However, Mendoza noted that the Filipino fighter may get caught up in a legal slugfest with retired Mexican boxer Oscar dela Hoya of Golden Boy Promotions. Dela Hoya had confirmed last September that Pacquiao agreed to fight under him through a seven-fight promotional contract. Mendoza noted that the Arum deal spanned four-years and would likely land Pacquiao more than seven matches. "He (Pacquiao) formalized his four-year contract to fight under Bob Arum. Pacquiao's problem now is the seven-fight deal he signed with Oscar dela Hoya," Mendoza said in Filipino. "If we look at the seven-fight deal, Manny Pacquiao will get no less than $21 million (over P1 billion). When Pacquiao signed that, he was given a signing bonus of $500,000 (P25 million)," Mendoza said. Pacquiao expressed apprehensions about the deal, Mendoza said, but Arum purportedly convinced the Filipino fighter that the four-year contract could prosper without any snags. "Immediately Pacquiao's camp thought that there would be a problem because of the Oscar dela Hoya deal. But Bob Arum said, 'that's not a problem, just return the $500,000 and everything will be settled.'" Pacquiao's lawyers also assured the "people's champ" that returning the signing bonus would avert any potential legal complication, Mendoza said. However, Mendoza said there was now a buzz (ugong) in boxing circles that Dela Hoya would sue Pacquiao for breach of contract. Pacquiao's star continues to rise in international boxing as he handily defeated Morales in only three rounds Sunday (RP time) at the Thomas and Mack Center in Las Vegas, Nevada. Pacquiao's win-loss-draw card now stands at 44-3-2, with 34 wins through knockouts. Last May, Top Rank sued Dela Hoya over promotional rights of the latter's fight with Ricardo Mayorga. Top Rank said in the suit that it had the right of last refusal on whether to promote the fight, which brought in $7.6 million in ticket sales and drew 875,000 pay-per-view buyers. It said Golden Boy Promotions offered unfair terms in breach of the spirit of their Feb. 19, 2004 contract. The lawsuit alleges De La Hoya and Golden Boy breached the agreement by "failing to present to Top Rank an initial reasonable offer with the necessary terms and conditions (and) refusing to negotiate that offer." "They didn't conform in good faith with the terms," Arum then told the Las Vegas Review-Journal. "They did what they did just to give themselves a way to blow us out of the water," Arum said. Arum estimated his company is owed at least $3 million for the May 6 bout, which De La Hoya won. The lawsuit also seeks punitive damages. - with a report from AP, GMANews.TV