In the transaction advisory business or investment banking, there is no more truthful saying than "Principals make deals." That is, if you're the one with the money on the line, then it's your call - and only your call - to strike a deal (or decide to walk away) with the guy sitting in front of you who also has his money on the line. The lawyers, the accountants, the promoters, the trainers, the doctor, the business manager, the pet dog, the tricycle driver, the popsicle vendor, the nanny, none of them are the principals.
Miguel Cotto vs. Manny Pacquiao: EA Sports
What do we know?
1. Bob Arum is serving two masters. Thus, he cannot serve either side "with utmost customer care." He is more like an arbitrator, but in this instance, Mr. Arum has something to gain by making this fight happen. He is attempting to lock in Miguel Cotto as a Top Rank fighter for fighting Manny Pacquiao. It is likely that the Puerto Rican is resenting this hard ball stipulation, as his contract ends at the end of the year. Oscar de la Hoya played golf with Cotto recently. Understandably, Cotto wants the biggest paycheck of his life. He is after all a family man, with an uncle suing him for $7 million. If Cotto loses this fight (if it ever happens), he may see his earnings indefinitely be reduced by as much as over 75% per fight compared to what he makes fighting the Filipino phenom. He wants to cash in. But Arum won't let him leave Top Rank. That's a heck of a situation to be in. Arum needs Cotto more than Cotto needs Arum. Besides Manny Pacquiao, who else does Bob Arum have in his stable? Antonio Marga-cheato? Golden Boy Promotions has Shane Mosley, Bernard Hopkins, Juan Manuel Marquez,
Now we see why Cotto's pride is sticking out. The Puerto Rican is supposed to be the client here - he is the one paying Bob Arum's cut of his purse in order to represent him. If the pizza delivery boy rudely places the pizza on the floor for you to pick up, would you still tip him? You're the paying customer - the client. The pizza guy needs to be respectful if he wants those $2 to $3 dollar tips.
Go to Page 2 of this Article (solutions, Congressman Pacquiao & President Aquino)
Bob Arum serving two masters in this case again nakedly illuminates an unfortunate systemic flaw that runs in boxing. Here's an article on it, eat it up (pardon the pizza pun): Mosley's Challenge to Pacquiao Betraying Boxing's Promotional Flaws.
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In transaction advisory, you would never get away with an investment banker serving two clients who are each trying to do a deal or transaction with each other. That is because the investment banker has to serve as an agent for either one, either the buyer or the seller. But absolutely not both. It can be a zero-sum game between buyer and seller. In most states, the banker would probably go to jail or have a judgment ruled against him in court for breach of fiduciary duty, among other charges. How can the banker effectively maximize the seller's price if he is also representing the buyer? Conflict of interest. If the banker (agent) is representing the buyer, then he needs to lower the transaction value, but how can he do that if he is simultaneously representing the seller?
2. Lack of coordinated diligence with Manny Pacquiao's team contributed to the mess. You work on a contract for several weeks in order to try and effect a transaction with another party, but you fail to even recognize or bring up the most salient negotiating points? "I represent the buyer, I speak on his behalf, and verbally agree to buy that house." But you did not even discuss price on the front end? You just assume that you would eventually agree on price? Then what is the buyer paying you for? The buyer is paying you for your professional judgment on significant business matters, not to take flights around the world, sip wine, have a good time, and not iron out the details. "By the way, sir I forgot to tell you, there is no championship belt on the line."
Page 2 (Prospective Solutions, Congressman Pacquiao, and President Corazon Aquino)
Comments
cotto is probably asking for more money here. money talks and BS walks
arum got cotto to prematurely agree on a bad deal and now he pretends pac doesnt want 7th title. right!
Obviously Manny & Roach are getting greedy here & wants everything to go on their favor. Cotto is the current defending welter champion & Manny is the challenger. It doesn't matter who is more popular or who has a bigger dick. The point here is that not only Pacquiao wants the fight to be in Las Vegas, not only Pacquiao wants the fight at a catchweight, not only Pacquiao wants the bigger paycheck & royalties, on top of all that he now also wants the title? Haha, this gotta be a joke. Pacquiao & his team should know that he is not fighting a low known bum fighter here. he is fighting another boxing PPV star in Miguel Cotto. He can't have everything his way like a spoiled child & Cotto is just telling him that. Cotto is tellin Pacquiao & Roach, blow me, I am the champion, it's my title & if you want it, man up & fight for it like everyone else & like I did when I won it at 147.
Good for him. I like Pacquiao, but he is acting like a bitch. Man up & stop the requests of special treatmen
they are just hyping the megafight.. they are just playing playing cat & mouse so for people would react.. "Marketing Strategy 101"..
Manny don't need Cotto without the belt. He can get his pay check whoever he wants to fight. Team Pacquiao just forget Cotto. Go Mosley and manny!!!
BEFAIR you are just NOBODY. cotto didn't win the belt its just handed to him sweetly and how much cotto got PPV he can't even generate 150K PPV. Are you real ok?hELLO!!! Learn boxing before posting.
go ahead and vacate the belt kuto. you can also put it in your
sigh
what a looser!!,
but Manny is the biggest CASH COW right now. not mayweather and certainly not COTTO.
wat Manny wants Manny gets.
Cotto says he does not care about the belt and would vacate it because he has to pay the sanctioning fee. This only shows that he is fighting for money this time, money he can only get by fighting Pacquiao. It doesn't matter if he is the champion, if he keeps on being stubborn he could very well kiss the dollars goodbye. The only reason he is not staking the belt is he wants more money so don't say it's only Pacquiao who has a lot requests. If he doesn't care about the title then he might as well put it on the line, unless he thinks he's going to lose.
manny does need cotto because he needs the 7th belt. cuz obviosly he wont fight moesly. sugar gave him the the sweetest offer everhing he culd ask for but manny jus dodged him. and the title dosent get handed to you. when its vacant 2 fighters fight for it dick head
Dlhoya's gulf $.hiit with Cotto was about the future deal between the two chicanos.
this situation is now milking cow for the genius
grandpa of boxing.
IN THE FIRST PLACE, MANNY WATCH COTTO'S FIGHT WITH CLOTTEY. HE LIKED AND WANTED THE FIGHT TO HAPPEN WITH COTTO.
IF PACMAN WANTS IT, HE CAN HAVE IT.
THEN ALL THINGS GOES BAD WHEN COTTO DEMANDS SOMETHING FROM BOB.
ITS A GREAT FIGHT TO HAPPEN ANYWAY .
ALL THE THINGS WOULD BE NO PROBLEM IF COTTO JUST "HAVE THE BELT ON THE LINE" PERIOD!
IS THAT TOO HARD FOR COTTO TO ASK IF HE'S A REAL WARRIOR?
The contract was in Manny's hands for a long time, even before Arum went on vacation, handed by Michael Koncz. Weeks passed until they brought up the belt issue which have been spotted the first few days that they had the contract delivered. This is a failure of Pacquiao Team to see the details. Atty Gacal clearly missed out on this one.
When the dust settles down guys, you will all wake with the realization that this just another stroke of genius in arums sleeve. He wants us all to be in the dark here. Its already a done deal with the belt on the line but he wants to keep a lid on the details so you press people will be jumping up and down writing about the hype. The buricuas and pinoys will complete the choir, Covering the pages margin to margin and wall to wall while the gayweather-marquez fight hit the doldrums gathering cobwebs as their date comes near. That's what im talking about guys! Stomp on GBP to keep their ticket sales at 12! You should notice GBP writers can only do one liners and no one even cares to read! while the yahoo search engines revs up up 24/7 all about pacman.
manny & freddie demands are not acts of being greedy they are just getting what they deserve, they earned it for crying out loud!
when oscar did the same demands one wouldn't say that he was being greedy right?
why can't other people give credits where they are due
In my opinion, everything happening between Pacman and Cotto's camp are all just publicity. Toprank planned it all, From Cotto not putting the title on the line to Pacman wanting Cotto to drop to 143 and stuff. All of it are planned, all of it are publicity stunt to catch the attention of the public. Even Arum saying he doesn't care about the fight being a title fight or not. All of it are just publicity stunt. At the end of the day, Cotto will fight Pacman as expected with title on the line at their agreed upon weight. Bob Arum has catch the attention of the whole boxing public with all this publicity stunt. Top rank will be happy after the Nov 14 bout!
IMHO, its mostly boxing politics and promotional savvy. WBO wants its $150,000 as the sanctioning body. Cotto would like Arum to take it off his promotional slice of the purse pie but its not small change, more than what B & C grade fighters earn in multiple fights.
Arum doesn't want to pay, Roach sides with WBO from a public relations standpoint...
Envelopmental journalists weigh in on the issues & put in opinions, fans blog in opinions ... and we have ourselves a good fight, drummed up & real issues notwithstanding.
The boxing world cant get enough of Pacquaio & others fighters want to ride on the bandwagon.
I'd like to have someone compute how much Pacquaio is worth to boxing right now ($$ to promoters, endorsed products, peripheral services, merchandising profits, website generated earnings & other financial implications his retirement impacts)... When the smoke clears, its not a mess, its all part of a megabuck business, and all of it is profit driven.
Everybody is on Manny's ass because he is fighting at 145 lbs. and not at 147 lbs. welter. limit. But what is the big deal i thought Cotto said he'll fight Manny at 145 lbs. and not at 143 lbs. and now that Pac agreed to it now his asking for more. He's being a hardass that i thought Manny should just dump Coto's fight and fight Mosley instead coz Manny is not dodging Mosley as Mayweather did. At the end of the day it's just all about money and Cotto obviously doesn't want to pay the sanctioning fee.
After reading most of the comments here and other blog i think it is clear that what is going is a hype. create hype and make people talk. it think its a done deal from the beginning. look what happened, mayweather and marquez fight is on the sideline. most fans don't care about it. that fight will be cancelled because mayweather's injury (again!!!). a broken ligament!!! now floyd who is the real draw now? you or manny? you're not even mention as one of the most top search from yahoo.com manny is number 8. just behind paris. think another alibis mayweather. talk loud...LOOOUUUDDDDEEEERRRRR...open your big mouth
well its time for Pacquiao to dump this fight and reconsider the offer of Mosley. After all, isn't the WBA belt more prestigious than that of WBO? With Mosley, everything would go smoothly from catchweight to purse revenue to the belt. I can understand Cotto's pride, but he overly reacted. So close this fight against Cotto and open up for Mosley.
pbf where are you now? what the heck is happening? you've been pretty quiet. ran out of rants? talk my boy! you can take all of them people. you've the biggest mouth. use it.
I think... fighting Mosley is not the next steps... we all know that, hom0 weather is going to cancel Marquez fight.. why not give him another month to train to fight Manny... now we all know that everyone in the whole world will watch that and 60/40 to Manny ofcourse. and if the hom0o doesn't want it.. then go to Mosley.. make it 65/35.. but not catch weight. oookkk.. lets make it a catch weight.. 140 for the belt too...
everyone want to agree with that?
This should have been a great fight if the title didn't become an issue. But now that it is a major issue, it has reduced the significance of the fight. That's because Cotto's so-called world title has zero significance.
It gives all the parties concerned the opportunity to set things right:
Cancel Pacquiao-Cotto.
Cancel Mayweather-Marquez.
Give us Pacquiao-Mayweather.
Arum is clearly being unfair to Team Pacquiao.
Since team Cotto is being too technical on 147 lbs then let's be technical. Pacquiao should fight Cotto at 147 not above 147.
Solution! Same day weigh IN at 147.
If Arum and team Cotto still spew out bullshits then drop the fight and go for Molsey.
Floyd where are you now? Actually I mean MAYWEATHERS WHERE ARE YOU NOW?
good work Top Rank! keep it coming... let's drown the PBF-JMM fight!!!
somebody says cancel pacquiao-cotto and PBF-JMM fights, I say no. Let PBF come down to his senses and live into the reality!
all talks about the cotto- pacquiao fight but none with mayweather-JMM??? will the latter cance l the upcoming bout then>>
If cotto will continue to be stubborn then this fight might slip out of his hands and to the waiting arms of Mosley.
Pinoy Boxing fans are invited to chat with fello pinoys at www.pacfans-corner.com
Too bad for Arum, he underestimated Manny's thoughts. Arum even said nobody care about the belt. However, of course Manny's camp cares! Arum jump the gun thinking just fight for the weight of 145 lbs. Definitely Not, the title is at stake here. Arum underestimated Manny's wants. Arum was pushing his luck. I think Arum should retire because he is losing the details and underestimating the fighters. Typical ignorant bully who think they're the boss. NO, the fighters are the boss, and promoters are manipulative, No Doubt. People wake UP!
I agree the pendejo lawyers of pacman should be fired for not representing him properly, details such as championship belts are a must in the checklist during negotiations. I also think these lawyers tried their best convincing/consoling pacman that all is not lost since contract has not yet been signed! But then again I see some milking cows here not only in Mr. arum but those cabron pinoys surrounding pacman! He's not getting the most out of fight negotiations better hire some good mexican lawyers!
Stupid Marv, If MP is the buyer like what your idiotic article manifests, it is only practical for him to check and inspect what he agreed or desired to buy. "Costumer always right principle" applies. Should a buyer find something which will not suit his taste or something which not please him then the buyer has the liberty not to proceed with the transaction and or may return the goods or have it replaced under its guaranteed/warrantee period.
It's a worthless belt. Just dig up how Cotto got it, you'll see why. Manny's camp would be fools to fight at 147lbs for a phony title.
If Manny wants his 7th title in 7th weight division it has to be Mosley. If he wants to fight Cotto because of the fan-bases then the belt doesn't matter. He can have Cotto's belt as a bonus but it will only tarnish his world record.
Pac-PBF is the best fight for me (taking into account that PBF is impossible to deal with). This goes beyond the belts and the world record. It seals his legend as the greatest of this decade.
all talks about cotto not putting on the line his wbo belt is hogwash.Lolo Bob is the capitalist here who holds the big money bag. The one with the money has the say. And cotto needs the money more than pacquiao. remember he is facing a $ 7 million court case from his uncle, no less. It means cotto is short of cash and because of this arum can easily tell cotto to stake the title or he will loss the chance and honor of possibly beating pacquiao. and the money that goes with it. i don't think cotto is a fool. he is just playing hardball. it is well within his right. and yes, the freeloaders and nincoompoops in pacman's team miserably failed to do their jobs. the lawyer gacal the jackal simply lacked the smartness of a negotiator. also the same thing with michael koncz. the canadian's brains simply conked out thinking of the amount of money he will earn from the fight!
the jackal should be fired by pacman, i dont even know why he trusted that moron... he has caused so many legal prob for manny already (abs-cbn vs gma + solar sports issues, top rank vs golden boy contract, among others)... he's a stupid lawyer but packy's more stupid for allowing himself be surrounded and advised by idiots who only wants his money.
1. bob arum the jew likes to financially rape and embarass his ethnic fighters. in his private room, he is saying to himself "look at those midget pinoys and puerto ricans let them fight and i make money." then in public, he pretends to like them, and also blacks and mexicans
2. arum has made manny embarass himself with solar, golden boy contract fight, etc. bec he is 78, he thinks he can bully these young kids
3. he is all smiles at you bec he thinks youre stupid and youre kissing his a**
hahahah stupid monkeys. he looks at shane and thinks igorot. he looks at cotto and thinks big coconut head. marquez is just a grasscutting lawn boy. and margarito is nothing but a kitchen chef. pavlik is white trailer trash. and bob arum is the laughing jew. mabuhay!
all u pinoys know marquez is #1 p4p. u know it
ALL THE ARTICLES IN THE BOXING WORLD ARE ,,,MANNY PACMAN VS MIGUEL " ATRAS " COTTO,
THERES NO ROOM FOR INCOMING SHOWDOWN BET.FLOYD AND JMM..LOW LOW PPV??,,MAYBE RE-SCHEDULING???
I think it's time to scrap the fight. Let cotto suffer for listining to de lla hoya he will lose million in this fight. SCRAP SCRAP SCRAP THE FIGHT
I told all you Morans that the fight was going to be for the title to stop sweating the Champ. Manny and Freddy refuse to let Cotto go to the weight in at 147 and is all good because i relly dont want no excuses on nov 14.
y'all stop talking about Pacquiao Cotto.
its hurting out ticket sales. a few more weeks of this talk and Marquez will start crying again.
why not talk about why all these years i never showed interest in hot babes. never been around them and never like them. i instead like rubbing skin with guys in the ring.
I'm pretty confident that Pacquiao will get his 7th World title in 7 Weight divisions. And he will be the 1st 145 Champion. He will also have a chance to win 8 titles in 8 weight divisions if he can defend a title at 147. Stupid isn't it?
So, championships in Boxing can be fought on the line using handicaps and considerations just to make a fight even. Maybe a 10 yr old boy has a chance winning a Welterweight title in terms that his opponent will tie his hands with his eyes covered. Maybe this would be an even fight. Can they also use "feet" for a handicap match? Seems like a WWE match to me.
I'm a Filipino and I am rooting for Pacquiao to get his 7th. But winning his Welterweight title at 145 will cause much criticism inluding myself.
von aldwinx, I totally agree with you. Pacquiao is one of the most stupid person I ever knew of. But he's forgiven for he is the best Boxer in the World today. (Just imagining him signing conflicting contracts makes me sick).
Hey, oinky u again, haven't u read that the contract is not yet signed by both party u pig. Now the fight is on and the belt is in stake see ur idol kiss the canvass.
Shame on u oinky to be a filipino by giving bad comment on manny. UR the bad egg of old generation.
Hey Oinky do u know boxing have u read the rules and regulation in weight to be fought by either boxer.Get a copy and read it or u don't know how to read.
No juntaga2, Cotto's not my idol. I'm on Pacquiao's side. I'm a Filipino. But I'm for legitimacy here. If you don't understand anything from my thoughts then you are just a plain PACNUTHUGGER.
Yes juntaga2 I know the rules in Boxing Welterweight division in specific. The Welterweight limit is 147 and not 145. I know 145 is within the range, but not the limit. Do you understand my point now?
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