There is already a mad rush for tickets for the May 2 welter war starring Manny Pacquiao and Floyd Mayweather even if tickets haven’t gone on sale and Hall of Fame promoter Bob Arum fears that the public will end up scrambling for scraps.
“There might not be enough for the fans,” said Arum at the weekend, after it became official that Pacquiao and Mayweather are finally getting it on at the MGM Grand in Las Vegas.
Arum said the Grand Garden Arena can accommodate just above 16,000 and the major players – casino, Mayweather’s camp, Showtime, Pacquiao, Top Rank and HBO – are likewise entitled to their share of the tickets that can retail for $5,000 a pop at face value.
Even the Himalayan seats can retail for several times its normal value, leaving Arum wondering how the public would react once they realize that not one ticket is left to buy.
The tickets could be made available for selling immediately after a press conference announcing the fight is held sometime in the second week of March in Los Angeles, said Arum.
“That’s going to be a problem because there is a huge demand,” added the 83-year-old chief of Top Rank.
The promoters had no choice but to raise ticket prices since the top attractions are getting unprecedented purses.
Everything about the fight is big.
Mayweather is guaranteed at least $120 million, while Pacquiao stands to get a minimum of $80 million.
There is also income to be had from pay-per-view revenue, ticket sales, closed circuit and fight merchandise, making the event the most anticipated since Muhammad Ali faced Joe Frazier in 1971.
The PPV rate is going to be $89, far more expensive than the $65 when Mayweather faced Saul “Canelo” Alvarez in 2013.
Courtesy of Nick Giongco of the Manila Bulletin. Follow Nick on Twitter @NickSpeaks