The planned rematch between boxing legends Floyd Mayweather and Manny Pacquiao is “still on,” despite Mayweather’s recent comments about the planned showdown in Las Vegas.
Jas Mathur, CEO of Manny Pacquiao Promotions and a producer for the event, has objected to Mayweather’s comments, stating they run afoul of their agreement.
Breach of Contract Allegations
Mathur stated that Mayweather is “officially in breach of his contract” following comments made on Saturday. He added that Mayweather has been in breach since making those comments. Mayweather reportedly told Vegas Sports Today that “this is not actually a fight. It’s an exhibition.”
According to Mathur, discussions have taken place with Mayweather’s team since his comments. Team Mayweather are allegedly insisting on changing the fight from a sanctioned professional bout to an exhibition, which Mathur says is one of several breaches of the fight contract.
Discussions and Agreements
Mathur suggested that Mayweather was aware of a site visit to The Sphere. The visit included 35-40 representatives from Manny Pacquiao Promotions, Mayweather Promotions and Netflix, along with producers Hidden Empires, EverWonder Studios and Limitless X Holdings.
Mayweather’s proposed June exhibition with Greek kickboxer Mike Zambidis is also in direct breach of his agreement to face Pacquiao, according to Mathur. He added that there is a cure period where Mayweather can rectify the violation after receiving written notice of the breach.
Financial Arrangements
Mathur stated that Mayweather has already taken out an advance on his fight purse.
“Floyd Mayweather signed not one, not two, but three different agreements on three different dates with two different parties that ultimately got intertwined in the month of January,” Mathur said. “And this is all related to his return to professional boxing. First one was on October 24th. The second one was on November 6th. Third one was on December 14th. He received money for all three agreements when he signed them. Not only that, but he’s also taken out an advance on his purse for his fight against Pacquiao.”
The Fight’s Original Terms
Mayweather-Pacquiao 2 was announced in February as a professional boxing match. This came just days after Mayweather stated he would be coming out of retirement in an event set for The Sphere and to be streamed globally on Netflix.
The fight was set to be, what Mathur called, the “first ever sports and entertainment event in boxing” that will be a spectacle and leverage the technology of the entertainment venue.
“As of right now, the fight is still on. There is no termination of any sort, and he has signed for a professional fight,” Mathur said.