Mayweather-Pacquiao financial numbers continue to soar
Milan Ordoñez on Mar 24, 2015 11:13 AM
Photo credit: Chris Farina
MANILA - The projected finances for the May 2nd bout are in, and they are quite stunning.
In a report by ESPN.com's Dan Rafael, the venue ticket sales alone for the Mayweather-Pacquiao mega fight is seen to reach a massive $74 million, completely surpassing the September 2013 fight between Floyd Mayweather and Saul "Canelo" Alvarez, which generated $20,003,15.
According to Top Rank chief Bob Arum, ticket prices have been raised, from $1,000-$5,000 when the fight was made official in February, to $1,500-$7,500 as of this month, with the dramatic soar in prices was mainly attributed to the huge demand. Arum adds that the top ticket will be priced at $10,000, but will not be available for public sale.
"We'll probably have a handful of tickets that will go on sale to the public next week," said the 83-year old Arum. "It's mania."
As for pay-per-view buys, many are expecting for it to surpass 3 million, breaking the record of the 2007 bout between Floyd Mayweather and Oscar De La Hoya, which was then considered as the richest boxing match in history. Pay-per-view prices are seen to go as high as $100, and is expected to generate $300 million in domestic buys, covering territories such as the United States, Puerto Rico, and Canada.
For the Philippines, television and pay-per-view rights were said to be sold to long-time broadcaster Solar Sports for $10 million. Arum expects a whopping $35 million in foreign buys, which is believed to be another record-breaking feat.
As stipulated in their contract, Floyd Mayweather will be getting 60% of the revenue, while Pacquiao will be taking home 40%.
"Between the gate, the foreign television sales and the closed circuit, which we can't even calculate yet, you're looking at over $120 million," Arum explained. "And that's before one pay-per-view has been sold in the U.S."
Clearly, not only will May 2nd be historical as far as finally knowing who the best boxer of this era is, but all signs point to it being the most lucrative event in sports history, as well. And for Bob Arum, these numbers won't be even close if the fight was made as originally intended in 2010.
"We wouldn't have gotten a fraction of these numbers if we made the fight five years ago. "It turned out that we're doing the fight at the right time, I guess, not that we're geniuses for waiting this long."
Following Bob Arum's line of thinking, Floyd Mayweather was right, all along. Timing was indeed, key.
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