The world’s highest-paid athlete is
headed for the biggest payday of his career. Floyd Mayweather (47-0)
announced Friday night via the Shots social sharing site that he will put his
undefeated record on the line and face off against Manny
Pacquiao (57-5-2) in the ring on May 2 from the MGM Grand Garden Arena in
Las Vegas. The tortured negotiations between the two boxers and their
respective camps have dragged on for six years, but the sport’s biggest draws
will finally clash with HBO and Showtime both broadcasting the fight on
pay-per-view.
The fight will be just the second joint PPV
telecast between Showtime, which has Mayweather under contract, and HBO, which
counts Pacquiao in its boxing stable. The fierce rivals in the premium cable
business came together in 2002 to jointly sell Mike Tyson (Showtime fighter)
versus Lennox Lewis (HBO) with HBO earning the rights to the replay after
Lewis’ knockout win. The May fight will be co-promoted by Top Rank and
Mayweather Promotions.
“Everyone involved, including Floyd Mayweather and
Manny Pacquiao, knows this fight simply had to happen. All of us are thrilled
to be able to deliver this event to boxing fans around the world,” said
Showtime Sports general manager Stephen Espinoza in a statement. Espinoza
credited Les Moonves, the CEO of Showtime’s parent CBS, for the fight
coming together. “He was the catalyst for seeing this deal through,” said
Espinoza in a media call discussing the announcement. “This is the biggest
boxing event of all-time. We look forward to May 2. It will be a spectacular
night for the sport,” said HBO Sports president Ken Hershman.
Mayweather-Pacquiao will almost certainly shatter
the records for PPV buys (2.5 million for Mayweather-Oscar De La Hoya),
PPV revenue ($150 million for Mayweather-Canelo Alvarez) and live gate ($20
million for Mayweather-Alvarez). Mayweather and Pacquiao will split the purse
60/40 in Mayweather’s favor. Reports have circulated that the
fighters will earn $150 million (Mayweather) and $100 million (Pacquiao), but
those figures might be optimistic unless PPV buys go crazy.
The fight will mark the fifth bout in
the blockbuster six-fight contractMayweather signed with Showtime in
February 2013. He earned $170 million for the first four fights of the deal,
including his share of PPV receipts. Mayweather’s biggest payday of his career
was for his September 2013 fight against Alvarez billed as “The One.”
Mayweather pocketed roughly $75 million with Alvarez earning $12 million in a
fight that was the top-grossing fight in boxing history with $200 million in
revenue from PPV, tickets, sponsors and international media rights. The huge
payday made Mayweather only the second athlete ever after Tiger
Woods to earn $100 million during the course of one year. Pacquiao’s
biggest purse was the $30 million he banked for his third fight against Juan
Manuel Marquez in 2011. The Ma2 fight is a one-fight deal and there is no
rematch clause in the contract.
The PPV cost for Mayweather-Pacquiao is expected to
approach $100 for the hi-def version versus the usual price of $75 for a
boxing PPV event thanks to the heavy demand. Three million PPV buys at $100
would produce around $150 million towards the purse (cable operators keep
roughly 50% of the cost and HBO/Showtime are entitled to a small sliver). Four
million buys generates $200 million for the fighters.
Record
Mayweather: 47-0 with 26 knockouts; Pacquiao:
57-5-2 with 38 knockouts.
Age
Mayweather: 37; Pacquiao: 36
Betting Line
Mayweather: -350; Pacquiao: +265 via
Bovada (fight must take place May 2 or 3 for bets to be valid).
Twitter Followers
Mayweather: 5.5 million; Pacquiao: 1.6 million
Earnings
Mayweather: $105 million between June 2013-June
2014; Pacquiao: $41.8 million, including endorsements.
Mayweather topped
Forbes list of the world’s highest-paid athletes, while Pacquiao ranked
No. 11.
There are other significant other revenue streams. The gate might
reach $50 million with tickets likely to be priced between $1,000 and $5,000 at
Mayweather’s home away from home, the MGM Grand, where he has fought his
previous 10 bouts (Mayweather-Alvarez tickets cost $350 to $2,000 and sold out
in a day). Expenses will also run high, but ultimately the final purses for the
fighters will be determined by the PPV audience. Three million is certainly
attainable. If the fight can draw in casual sports fans, then four million is
on the table.
Purse (last fight)
Mayweather:
$32 million (Maidana II);
Pacquiao: $23 million (Algieri)
Biggest Career Payday
Maywweather:
$75 million (Alvarez); Pacquiao: $30 million (Marquez III)
Career Earnings
Mayweather: $420 million; Pacquiao: $335 million,
including endorsements.
Career PPV Buys
Mayweather: 14.2 million; Pacquiao: 13.6 million
Career PPV RevenueMayweather:
$860 million; Pacquiao: $755 million
Article by Forbes Magazine