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The contracts have been signed, and tickets are now on-sale for the May 2 Manny Pacquiao vs. Ricky Hatton bout at the MGM Grand Garden Arena.
For many boxing/Pacquiao fans that’s certainly a sense of relief, given that the bout was near dead and in jeopardy just weeks ago when Pacquiao pulled a switcharoo with Hatton in the negotiation table.
After originally asking for a 60 percent share of the fight earnings, then reportedly agreeing on a 50-50 split with the British boxer, the Pride of the Philippines in the last minute asked for a 52-48 percent of the earning.
The move surprised Golden Boy Promoters, the team that represents Hatton and even veteran boxing promoter Top Rank President Bob Arum, Pacquiao’s promoter.
That day, Golden Boy’s CEO Richard Schaefer didn’t have a lot of kind words for the pound-4-pound champ.
The former Swiss banker and right-hand man to Oscar De La Hoya said he was "disgusted" with Pacquiao’s contract demands and allegedly called the Filipino boxer "a spoiled young kid who doesn’t know how to behave," according to the LA Times.
Schaefer believed Pacquiao went overboard asking for a 60 percent share in the earnings, maybe a little bit arrogant of the Filipino champion.
But for Pacquiao making the move to switch the percentage to his favor shows that he is growing his business acumen.
The number 1 rule in business is to know your worth and Pacquiao certainly knows his.
He is arguably the pound-4-pound champion regardless of weight class in boxing, currently holds two title belts in two different weight classes (three if you include the Ring Magazine title), and has a rags-to-riches background story fit for a Hollywood movie.
Right now, Pacquiao is sitting on top of the boxing world. Pacquiao is the No. 1 draw in boxing so he deserves to be paid like one.
His resume speaks for itself.
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