Efforts have been undertaken to settle the legal dispute involving Manny Pacquiao and Top Rank, Hall of Fame promoter Bob Arum said on Wednesday.
Arum heads the Las Vegas-based Top Rank, which Pacquiao said still owes him $1.7 million, his share on the broadcast rights of his July 15 fight against Lucas Matthysse in Kuala Lumpur.
The fight was telecast to the US, Canada and Puerto Rico and Pacquiao’s MP Promotions staged the event all by its lonesome.
Arum said everything is being done to settle the issue with Pacquiao. ‘Pacman’who came out on Monday on social media, alleging Top Rank of withholding his cut on the telecast rights. Likewise, this was preventing him from forging a promotional partnership with interested parties, including a tieup with Eddie Hearn of Matchroom Sport in the UK.
While the 86-year-old Arum acknowledges that his legal team is working on the matter, he politely declines to go into details given the delicate nature of the proceedings.
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My post from the other day was a result of miscommunication between my Team and Top Rank. Everything has been clarified. I would like to thank Bob and Top Rank for helping guide my career and for the many great years of working together. We have accomplished so many amazing things together.
Pacquiao issued his own statement via social media.
“My post from the other day was a result of miscommunication between my Team and Top Rank,” said the eight-weight ruler.
“Everything has been clarified. I would like to thank Bob and Top Rank for helping guide my career and for the many great years of working together.
“We have accomplished so many amazing things together,” he added.
Before his contract with Top Rank expired last year, Pacquiao fought and defeated everyone except one guy, Floyd Mayweather.
Oscar De La Hoya, Miguel Cotto, Shane Mosley, Ricky Hatton, Antonio Margarito, Erik Morales, Marco Antonio Barrera and Juan Manuel Marquez were pitted against him and the Filipino legend beat them all, many of these fights going over the 1 million barrier in PPV subscriptions.
Pacquiao is eyeing a Dec. 1 ring return possibly against British star Amir Khan.
Courtesy of Nick Giongco, Manila Bulletin. Follow Nick on Twitter @NickSpeaks