MANILA, Philippines - After a thorough review and probably some minor revisions, Manny Pacquiao has finally signed the fight contract.
This makes Pacquiao’s May 7 encounter with Shane Mosley official, and now it’s time for the promoters, led by Bob Arum, to work on it, drum it up, make some noise and hope for the best.
“Yes, Manny has signed the contract,” someone close to the boxer said yesterday.
Pacquiao signed the contract last weekend, immediately upon his return from an extended two-week vacation that took him and his family to Boracay, then Japan and finally, Australia.
Arum, the chief of Top Rank Promotions, came to Manila last December and showed the fight contract to Pacquiao. But while he hoped it wouldn’t take long before things were done, it went otherwise.
Pacquiao’s adviser, Michael Koncz, said the 32-year-old fighting congressman was in no hurry to sign the contract, and wanted to take some time to look at it before putting his name on the dotted line.
“We’re not where we want to be. But it’s not too far,” said Koncz before Christmas, explaining why Pacquiao had to hold on to his decision to sign the fight contract.
Pacquiao’s chief-of-staff and legal counsel, Franklin Gacal, told The STAR the other day the reigning pound-for-pound champion stands to receive a guranteed purse of $15 million for the Mosley fight.
“No less than $15 million,” said the lawyer from General Santos City.
Of course, Pacquiao stands to earn more, a lot more, when everything else comes in, and if the pay-per-view sales breach the one million mark, his earnings for this May fight could reach $20 million.
Mosley is guaranteed $5 million for stepping up and facing Pacquiao, and reports said the 39-year-old pride of Pomona in California will get $5 for every pay-per-view sales exceeding 500,000 hits.
If successful, Mosley can earn as much as $8.5 million, which should surpass his biggest paycheck ever of $7 million, in his fight against Floyd Mayweather in May last year.
Arum and his bright men should be working on the dates by now.
A press tour is scheduled for February with stops in San Francisco, Los Angeles, New York and Washington, where the Filipino congressman may get the chance to meet President Obama.
“The President wants to meet Pacquiao,” said Arum, who is working on the rare opportunity with the help of Sen. Harry Reid, whom Pacquiao campaigned for in last year’s US elections.
Pacquiao has been nominated for the Laureus World Sportsman Award along with five others, and a quick stop in Abu Dhabi can be worked out in time for the awards night on Feb. 7.
The 2011 awards will take at the Emirates Palace in Abu Dhabi. It will be broadcast to a worldwide TV audience, and will provide a high profile, a very distinguished list of great sportsmen.
Just enough to drum up the coming fight, just in case Pacquiao emerges the winner.