Bob Arum can find a million reasons to say that Manny Pacquiao can no longer stage any of his remaining fights in the Philippines. The living legend of boxing promotions was asked recently about the possibility, and he had a ready answer.
“Zero,” said Arum, citing a one major reason why Pacquiao can no longer fight at home. “We’re doing gates now in Las Vegas from $11 million to $12 million,” said the chief of Top Rank Promotions.
That’s as much as P473 million in ticket sales alone even if the bulk of the boxers’ earnings come from the guaranteed purse and pay-per-view sales.
As of yesterday, there’s just a couple left of the tickets worth $1,200, $900, $600, $400 and $200 for Pacquiao’s Nov. 12 fight with Juan Manuel Marquez.
It’s a guaranteed sell-out.
There are close to 17,000 seats at the MGM Grand, the fight venue, and Arum told ESPN.com that almost translates to $11.7 million. They also expect to break 1.4 million PPV hits at $54.95 a pop.
On the internet, ticket prices for Pacquiao-Marquez Part 3 have sky-rocketed, and the best seats in the house are already selling for as high as $17,000 or P730,000.
It will be impossible to sell tickets at such a price in the Philippines where millions live way below the poverty level.
Continue reading at Philippine Star
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