op Rank promoter Bob Arum is the go-to-man in boxing these days in terms of promoting super-fights, yet he seems less than concerned about his number one fighter and cash cow Manny Pacquiao's future plans.
According to respected ESPN boxing scribe Dan Rafael, Arum was cool as the proverbial cucumber when he spoke to him last weekend in Atlantic City, N.J., while covering his "Latin Fury 9" pay-per-view card.
Arum told Rafael that things on the Cotto side were agreed to in principle and they were just ironing out the "the small stuff."
Arum said he intends to finalize the HBO PPV bout for Nov.14 at the MGM Grand in Las Vegas.
"It's going to be huge, but it's just not a done deal yet." said Arum.
"These things take time, especially when Pacquiao is half a world away in the Philippines," he stated.
Arum, who promotes both fighters, is keeping most of the final fight details extremely close to his chest, yet obviously the 72 year old boxing guru must be assuming he has the fight in the bag; as he jetted off Wednesday for a two-week European vacation.
Rafael says that last week, Arum met with Pacquiao adviser Michael Koncz in Las Vegas, and delivered him a sweet offer to help further persuade Pacquiao, and move the process one step closer to being finalized.
It now seems that—a rumor has surfaced regarding Pacquiao receiving at least a $12 million guarantee plus a generous upside on the pay-per-view sales and other considerations.
Koncz was supposed to return to the Philippines on Sunday to meet with Pacquiao to discuss the proposal, but according to Rafael, he wound up staying in the United States a little longer than expected and won't leave until Friday.
Koncz said that once he arrives in the Philippines, he'll meet with Pacquiao, and that so far, Koncz likes what he sees in the offer.
"I'll relay the offer to Manny when I get to the Philippines, but we're in the same ballpark with [Arum]," Koncz told ESPN's Rafael from Las Vegas on Wednesday.
"I was pleasantly surprised with the offer. But it's a negotiation, so we probably won't accept the first offer, but we're not far off. The talks I had with Bob were good. So I will bring Manny the offer. We'll probably counter, but I think it will get worked out."
"Yes, We're really not that far off. I can't say for sure, however, because Manny makes that decision, but I think it looks good. This is the fight Manny say's he wants," stated Konce.
The issue of catch-weight seems to have also been previously addressed. Although it hasn't been finalized either as of yet, it looks to be either 144 or 145 pounds.
Pacquiao trainer Freddie Roach has stated that he would be OK with 145 if necessary.
Arum too, said he thought Cotto would be able to safely make 144 based on what his nutritionist said.
The brass at Top Rank Promotions also seem extremely optimistic that the fight will happen, so confident in fat that they are already having internal discussions about the under-card.
Humberto Soto the current alphabet Super Featherweight champion is one name that's being discussed.
Soto also won another title by beating Rocky Juarez on August 20, 2005, a fight he accepted with two weeks notice. He is known for his unorthodox boxing style, being referred to as the"gumby man" by boxing manager Emanuel Steward.
The other name that's being discussed is junior middleweight prospect Vanes Martirosyan, who was impressive in his sixth-round knockout of Andrey Tsurkan on last week's "Latin Fury 9" under-card.
Rafael say's he is assuming that once Arum is back from vacation, it won't be too long until an official announcement for the fight is made.
Source: bleacherreport.com
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