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By Ismael AbduSalaam
Grand Opening/Grand Closing: Pacquiao Rebuffs De La Hoya OfferNot even a full week after announcing that negotiations had begun, Top Rank head Bob Arum has confirmed that his client Manny Pacquiao has declined to accept Oscar De La Hoya’s proposal for a December superfight. The stalling point was De La Hoya’s proposed 70-30 revenue split in his favor. Floyd Mayweather accepted a similar deal last year, and received a purse of $20 million after PP V sales were counted. “Oscar wanted 70-30 and Richard (Shaefer, Golden Boy CEO) and I figured that there would be room for movement. Oscar was supposed to come in [to Los Angeles] this week to meet with Richard in person, but he didn’t make it and had to do it on the telephone,” Arum explained to ESPN. “Oscar was adamant about it being 70-30 or no deal. Richard told me that and then I transmitted it to Pacquiao and his people in the Philippines. They told me that there was no deal and to look to make another fight.”  Golden Boy CEO Richard Shaefer was shocked at Pacquiao’s refusal, and made it clear he felt the lightweight star did not have a clear grasp of how much money he’s turning down. “Pacquiao has an adviser and lawyer [Franklin “Jeng Gacal] who basically is caught up in percentages. But if you go buy a car or a house or food do you pay in percentages or in money?” Shaefer reasoned. “The answer is you pay in currency not percentages. I hope this has been properly explained to Manny.” With the fight off the table for now, De La Hoya has turned attention to an underwhelming final bout against 154 pound title holder Sergio Mora. Mora is coming off an upset win against Vernon Forrest, and the Latin Snake will have to repeat the feat next month to secure the December 6 date against the Golden Boy. Pacquiao is now working towards securing a fight with junior lightweight Humberto Soto, who would move up to 135 for the bout. It’s interesting to note that Mayweather attempted the same hardball negotiations with Oscar, but after one week relented when De La Hoya gave him the same “take it or leave it” demand Pacquiao now has. It turned out to be a wise decision for Floyd, as he became a mainstream star and went on to have the highest grossing year of his professional career ($50 million including the Hatton fight). Pacquiao’s situation mirrors Floyd as he is now the pound for pound number one fighter in the sport. But he lacks the popularity Mayweather had going into his bout with Oscar in 2007. Pacquiao’s last PPV with David Diaz fell short of 200,000 buys, while Floyd was able to do over 300,000 with Carlos Baldomir of all people. Pacquiao trainer Freddie Roach is attempting to get in contact with Manny, as he also feels a mistake is being made in rejecting this bout. And with how limited De La Hoya looked in his last bout against Stevie Forbes, Pacquiao should definitely reconsider this superfight that will make him at least $15million, besting his previous career-high payday of $5 million.
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