By Peter Czymbor - It would be a colossal disappointment if the Pacquiao - Mayweather fight doesn't come to fruition to say the least. Some repercussions of the fight not happening are obvious. However, what's not so clear is the effect the apparently failed negotiations could have on the boxing industry as a whole outside of just Pacquiao and Mayweather.In 2006 boxing's biggest promoters were caught amidst a war with one another when then junior lightweight Manny Pacquiao signed a lucrative seven fight contract with Golden Boy Promotions in a secret meeting Los Angeles.
Already bitter rivals with Golden Boy, Pacquiao promoter Top rank Inc. made an offer to Pacquiao after the fact, which he accepted. He then returned the signing bonus he had received from Golden Boy and pledged his allegiance to stick with Top Rank as his promoter.
In turn, lawsuits were filed. Pacquiao was in breach of the contract he had signed with Golden Boy and in the end, Pacquiao stuck with Top Rank while agreeing that 5% of his purse for every fight would go to Golden Boy. Interestingly enough, this episode spawned the two rival companies to work with each other for Pacman's next fight when he scored a unanimous decision over Golden Boy fighter Marco Antonio Barrera.
The two companies made a truce. It was an uneasy alliance that clearly benefitted boxing. The two companies worked together to put on most of the biggest boxing matches of the past two years. Pacquiao - De La Hoya, Cotto - Mosley, Hopkins - Pavlik and Pacquiao - Hatton are just a few of the bouts that were copromoted by Top Rank and Golden Boy.
Prior to the Pacquiao - Barrera rematch, the two companies refused to work with each other due to a bitter dispute between Top Rank's Bob Arum and Golden Boy's Oscar De La Hoya, both the head of their respective companies.
Their dispute stemmed from De La Hoya, then still an active fighter, striking out on his own with Golden Boy Promotions rather than sticking with Arum, who had promoted De La Hoya since turning pro following a Gold Medal winning performance at the 1992 Olympics.
Even though it would have been mutually beneficial from a business standpoint for them to work together, they didn't for a long time due to personal issues.
Now amidst the soap opera negotiations for what would be the most lucrative fight in boxing history, both parties are back at odds again.
Paquiao and Top Rank are suing Golden Boy, among others, for comments made about alledged steroid use from Paquiao as he moves up in weight and continues to win convincingly. Golden Boy, who is representing Mayweather during the current negotiations, has been taking Mayweather's stance on issues during the negotiations for obvious reasons.
Not only does the lawsuit seek compensation for what Pacquiao's camp feels are damaging comments made from Golden Boy, but also an end to Golden Boy getting 5% of his purse for each fight.
Top Rank is threatening Golden Boy and boxing fans with Pacquiao vs. Joshua Clottey, a fight no one really wants to see by comparison, and making disparaging comments about Golden Boy's executives from a personal standpoint.
The past few years have been excellent for boxing thanks in large part to the partnership of Top Rank and Golden Boy on a majority of the sports major fights. With all the momentum the sport has accrued over the past few years, it would be a shame for the momentum to halt due to personal issues between promoters.
Here's to hoping that Pacquiao and Mayweather fight in 2010 and here's to hoping Top Rank and Golden Boy continue to work with each other.
If that happens, everybody wins.
Source: examiner.com
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