Dubbed as "Fight for Love," the 70-round card hopes to raise funds for Espinosa’s legal battle to collect his purse from a world title fight nine years ago.
North Cotabato Gov. Manny Piñol is promoting the card through Braveheart Promotion.
Espinosa defeated Carlos Rios of Argentina on Dec. 6, 1996 in Koronadal City, South Cotabato, but failed to collect $150,000 (roughly P8.4 million) following the fight.
The ex-world bantamweight and featherweight titleholder sued former business manager Rodolfo Nazario before the Manila City Court.
Joe Robles, a Fil-American policeman in San Francisco who now acts as Luisito’s manager, has been working on Espinosa’s immigration requirements for him to be able to come home and return to America afterwards.
Robles, who is now temporarily based in Cebu City, hit the headlines recently when his attempt to schedule a fight for Luisito was disapproved by the California Boxing Commission.
Piñol said Espinosa was grateful that he still has loyal friends in the Philippines.
The plan to help Espinosa cropped up after Piñol had a lengthy talk with Espinosa’s former manager, Hermie Rivera, Immigration commissioner Al Fernandez and columnist Recah Trinidad.
Manila Mayor Lito Atienza pledged to support and sponsor the Oct. 29 activity along with Manila Rep. Mike Roces by waiving the 30 percent amusement tax on ticket sales.
Games and Amusements Board (GAB) chairman Eric Buhain, on the other hand, told Piñol that he would work for the lifting of the mandatory 5 percent tax on the ticket sales of the boxing event as a gesture of GAB’s support to Espinosa.
All ticket sales will go to a fund that Espinosa could use in his legal battle.
Piñol said Espinosa stands to get P500,000 if all tickets are sold.
"This event is meaningful because it shows that Filipino boxing fans still remember the heroism of Espinosa and that they are thankful for the many happy moments he gave the Filipino nation," said Piñol.