Golden Boy not involved in negotiations: Arum

Source | abs-cbnnews.com | Top Rank chief executive officer Bob Arum said that Golden Boy Promotions (GBP) is not involved in the negotiations for a potential mega-fight between top boxers Manny "Pacman" Pacquiao and Floyd Mayweather Jr.In an interview with BoxingScene.com, Arum lashed out at GBP chief Richard Schaefer, who had accused him of making up stories to trick Pacquiao. "It's understandable because Richard is on the outside looking in," Arum said. "Who knows and who cares what Richard says?"

Golden Boy has co-promoted Mayweather's fights since 2007, but they do not have the boxer under any contract. Mayweather is not contractually obligated to involve Golden Boy in negotiations.Pacquiao recently confirmed that negotiations were ongoing for a possible mega-fight with Mayweather, although nothing has been finalized. Mayweather also recently challenged Pacquiao to "sign the contract" for a May 5, 2012 bout.

"May 5th is the date," Mayweather said.

Arum said he is already fielding offers from potential investors regarding the fight, with at least three groups making separate offers. "Everything is subject to negotiation and I will take the offers to Manny, and if Manny agrees, then we can go to Floyd," Arum said. If Pacquiao and Mayweather agree on the investors, then Top Rank will play only a "functionary role" on the fight, where they will only handle the boxing aspects.

"Of course, these investors, having made a fabulous investment in the fight, would have plenty to say about every aspect of it," Arum said.A Pacquiao-Mayweather super-fight is expected to break all existing records in boxing, from live gate receipts to pay-per-view buys to purse money. If the fight pushes through, both fighters may make at least $50 million each.

Arum said he will visit Pacquiao in the Philippines early in 2012 once he has all the details ironed out. "We would be crazy not to carefully explore these unprecedented offers," Arum said

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