Bob Arum has confirmed that Floyd Mayweather’s delayed prison sentence will not result in a superfight with Manny Pacquiao on May 5.
Earlier this week, a Las Vegas judge agreed to move Mayweather’s 90 day jail term for a domestic violence conviction to June, allowing him to move forward with plans to fight on May 5 at Las Vegas’ MGM Grand Garden Arena. The short list of opponents Mayweather had for the date were Manny Pacquiao, Saul Alvarez and Robert Guerrero.
In a statement to the Manila Bulletin, Arum said co-promoting Mayweather-Pacquiao now instead of late 2012 would be fiscally irresponsible. He hopes to build a temporary venue on the Las Vegas strip that could seat up to 45,000 people instead of settling for the Grand Garden Arena’s 18,000.
According to Arum, the revenue difference is generating $15-18 million now as opposed to around $40 million from a temporary venue.
“You have to maximize (the earning potential),” explained Arum. “We’re going to lose $20 million (on a MGM Grand fight).”
At press time, Arum has scheduled Pacquiao’s next bout to take place on either June 9 or 16. The opponent list has been narrowed to Lamont Peterson, Timothy Bradley, Juan Manuel Marquez and Miguel Cotto.
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