Vasyl Lomachenko voluntarily takes pay cut to help Teofimo Lopez deal
Vasyl Lomachenko has taken a pay cut for his next bout in order to seal a unification with Top Rank stablemate Teofimo Lopez, according to Bob Arum.
The pound for pound star is hoping to get back in the ring soon after a break due to the coronavirus outbreak and Lopez is the man Arum wants the Ukrainian to face next.
Lomachenko holds the WBC Franchise, WBA ‘Super’, and WBO versions of the lightweight crown. Lopez has the final IBF piece of the undisputed jigsaw.
Before COVID-19 hit, this fight was almost a done deal. It was then reported that Lopez would refuse a lesser take from the pot.
Arum has since confirmed that Lopez is coming around to the idea. Whilst also revealing Lomachenko has agreed a lesser purse.
“Teofimo is a great guy and we will continue to promote his fights,” Arum told The AK and Barak Show on Sirius XM. “But I think Teofimo is beginning to realize that his aspirations as far as how much his purse should be was based on selling tickets to an arena, to as much as two and a half or three million dollars. Plus the closed-circuit – another million dollars.
“Those revenue streams are gone. But that doesn’t mean that he shouldn’t get a big purse. And he is getting a big purse.
“But you obviously can’t pay the man what you would be able to otherwise if you had a gate and closed-circuit revenue. It’s as simple as that.”
He continued: “Now, it’s difficult when you are dealing with young men or women or don’t have a financial background and have done what fighters have really done traditionally, over the last number of years.
“What kind of fighter I am, that determines what I’m worth and that’s what promoters will pay me. That’s all well and good when we are working with all the revenue streams. But at this time, we are not.
“So they have got to get really good purses. We never cut anybody below their minimums. And knowing Teofimo and knowing what a good young man he is, we will conclude (a deal) with him shortly.
“As far as Lomachenko is concerned, he has a contract with us. A long-term contract for substantial numbers based on the level of fights.
“He is voluntarily under these circumstances reduced his (own) purse in order to get the fight done.”
VASYL LOMACHENKO vs TEOFIMO LOPEZ WAIT
When asked if $3.5 million was a good estimate for Loma’s paycheck, Arum answered: “That’s not too far from the truth. Although it’s confidential.”
Concluding on whether he’d be on board with Lopez wanting to wait until the virus subsides and fans come back, Arum stated: “I think it’s a bad decision for a fighter to make.
“If a fighter makes that decision, I would respect that. There’s nothing wrong with that. That’s okay.”
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