The much ballyhooed fight between Manny Pacquiao vs. Oscar de la Hoya has been stalled (at least for now) due to issues on revenue sharing and on issues regarding the Philippine exclusive TV rights which network will broadcast the fight, ABS-CBN or GMA-7.
If you would recall, Golden Boy promotions (Oscar de la Hoya's corporation) has some tie-ins with ABS-CBN while Manny Pacquiao has a contract with GMA-7 and Solar Sports.
An article from Philboxing.com, Atty. Franklin “Jeng” Gacal said they couldn’t agree on the revenue sharing laid out in the counter-proposal forwarded by Team Pacquiao in response to an initial proposal from Golden Boy Promotions.
Gacal said he believes that their counter-offer was “very fair” because they recognized that De La Hoya was the superstar. However, Gacal revealed that Schaefer said he couldn’t decide on the question and would have to get back and consult De La Hoya.
Previous reports suggested that Golden Boy was offering Pacquiao a guaranteed purse of $20 million but that Team Pacquiao also wanted a share of the pay-per-view and other ancillary rights. Gacal said they were not asking for a 50-50 split but the word was out that Golden Boy wanted it to be at least 60-40 in his favor.
Golden Boy and Team Pacquiao's legal staffs will meet again on Monday and they hope they would come up with an agreement by August 13. Let's keep our fingers crossed and hope that the dream bout will come into fruition. Either ABS-CBN or GMA-7 to broadcast the bout would be fine or for the better, both networks can broadcast the bout similtaneously which will benefit the Philippines as a whole.
Photo above photoshopped by yours truly