Manny Pacquaio Sees No Economic Benefit, Rejects Mayweather’s Challenge
Manny Pacquiao’s camp says there is no economic benefit in accepting Floyd Mayweather’s challenge to fight in Las Vegas May 5, according to The Guardian.
Mayweather challenged Pacquiao via twitter earlier this week writing “Manny Pacquiao I'm calling you out let's fight May 5th and give the world what they want to see.” Pacquiao’s financial advisor, Michael Koncz, argues that having the fight in a smaller arena is “foolish from an economic standpoint.”
According to Koncz, the MGM Grand’s limited capacity only seats approximately 17,000 fans, which could potentially raise $20 million in sales. A 45,000 seat boxing arena is currently being built in Las Vegas and could raise up to $50 million. However, the larger arena will not be completed in time for a potential bout between Pacquiao and Mayweather.
Mayweather is available for a fight in May after a judge agreed to postpone his jail sentence last week for domestic violence charge.