AFTER Filipino boxing superstar and eight-division world champion Manny Pacquiao threatened to hail them to court over unremitted share of the United States broadcast proceeds from his most recent fight, promoter Bob Arum and his Top Rank Promotions said the issue is now being resolved by both parties.
Speaking to ESPN on Tuesday (US time), Mr. Arum said their people have already reached out to Mr. Pacquiao’s group and that resolution on the issue is on sight.
“We read the Instagram post and [Top Rank attorney] Harrison [Whitman] handled it with Pacquiao’s attorney, and it looks like everything will be resolved,” Mr. Arum told ESPN.
The issue came out after Mr. Pacquiao on Monday wrote on his Instagram that he is contemplating initiating legal proceedings against Top Rank and other parties for non-payment of his share in the US broadcast rights from his fight against Lucas Matthysse in July.
“Congratulations and good luck to Top Rank Boxing and ESPN on your 7-year partnership agreement. I know both of you have been very busy finalizing the deal. However, I have not received the US rights payment for my July 15 fight against Lucas Matthysse that was broadcast on ESPN plus. Therefore, I am initiating legal proceedings against Top Rank and all other parties based on the non-payment and attempt to restrict my future rights. Thank you,” Mr. Pacquiao wrote on his Instagram account.
Mr. Arum said it was just a matter of Mr. Pacquiao not being able to sign and return the proper contract but that just the same said everything is now being taken care of.
As per published reports, based on a March 2018 contract between Mr. Pacquiao and Top Rank, the former was to get 85% share from the broadcast proceeds of the Pacquiao-Matthysse fight with Top Rank taking in the remaining 15%.
While it did not secure the right to promote the fight, Top Rank was given the right to broadcast Pacquiao-Matthysse in the United States, Canada, and Puerto Rico.
The said fight, held on July 15 at the Axiata Arena in Kuala Lumpur, was co-promoted by Mr. Pacquiao’s MP Promotions and Oscar Dela Hoya’s Golden Boy Promotions.
Mr. Pacquiao stopped Mr. Matthysse in the seventh round of the scheduled 12-rounder by way of technical knockout.
He is reportedly contemplating a return in the boxing ring in December. — Michael Angelo S. Murillo