Algieri to get over $1 million for the bout
MANILA, Philippines – Boxing promoter Bob Arum has successfully struck a deal for a November clash between fighting congressman Manny Pacquiao and Long Island’s Chris Algieri in Macau.
The Top Rank Inc. executive said Algieri and his promoters were able to work out the differences within their camp and has accepted the terms of agreement for the November 22 (November 23, Manila time) bout.
"We have a deal. On my end, it wasn't a hard deal at all,” Arum told Dan Rafael for a report on ESPN.com.
Algieri still had to sit down with his co-promoters, Joe DeGuardia of Star Boxing and Banner Promotions' Artie Pelullo to settle their their cuts.
The New Yorker will reportedly earn a career-high $1 million for the welterweight title clash with Pacquiao -- a huge jump from the $100,000 he received when he upset Ruslan Provodnikov last June.
“I came up pretty much with what they were looking for and then Joe and Artie had to sit down with Algieri and cut it up fairly amongst themselves," said Arum.
"I have to talk to my lawyer, Dan Pancheri, who will spit out the contracts first thing (Wednesday) morning so they can have a copy of it in the afternoon," he added.
DeGuardia said Algieri felt rewarded with the opportunity to fight one of boxing’s biggest stars, stressing that the boxer has no problem climbing up weight just to square off with Pacquiao at 147 pounds.
"He's wants the fight and has no problem going up in weight. He wants the welterweight championship. He wants challenges. He loves the idea. He wanted to fight for another championship and he loves that he is fighting Manny Pacquiao for it,” said DeGuardia.
Algieri’s promoter added that they could usher a "new era" in boxing if his client manages to upset Pacquiao.
“He looks as Manny as an elite of the game. He wants to climb another mountain. If he wins this fight, you have the start of another era," he said.