The Mayweather-Pacquiao fight contract negotiations took over five years to conclude as both fighters have failed to agree on major issues affecting the fight including drug testing protocols, purse split, venue and timing of the fight, among others.
On February 20, Mayweather, who was tasked to announce the fight officially, confirmed that the fight had been signed by the parties with Mayweather getting 60 percent while Pacquiao will share 40 of the purse.
The initial target for the fight’s gate revenue was placed at $40 million but ESPN has reported that it could reach as high as $74 million from ticket sale alone.
The MGM Grand Garden Arena is being configured in such a way that it will accommodate more people than the the Arena’s sitting capacity of around 15,000 people.
From the usual $100 to $1,500 for major events, ticket prices for the Mayweather-Pacquiao fight now range from $1,500-$5000. At these prices the demand continues to soar and the projection indicate that it could hit $74 million despite recent upward adjustment in ticket prices from $1,500 to $7,500.
PPV buys could also rise to over 3 million, the highest so far for a major boxing event in the US. The fight will cost buyers about $100 to watch the fight on either HBO and CBS/Showtime.
“We’ll probably have a handful of tickets that will go on sale to the public next week,” Pacquiao’s promoter Bob Arum said. “It’s mania.”
“It’s crazy, but it is what it is,” and “It’s amazing.” Arum added.
Arum believes the fight wouldn’t generate so much demand had it been held five years earlier. “It turned out that we’re doing the fight at the right time, I guess, not that we’re geniuses for waiting this long.” he said
