De la Hoya to pay $3M/lb if he fails to make weight
abs-cbnNEWS.com | 08/31/2008 1:05 AM
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Six-division champion Oscar de la Hoya reportedly agreed to pay a $3 million-penalty for every pound in excess of the welterweight limit of his mega-fight with boxing superstar Manny Pacquiao in December.
A report posted on SportsNews.ph said this was revealed by Pacquiao’s lawyer Franklin Gacal after his talk with Top Rank promoter Bob Arum Saturday morning, Manila time.
It will be de la Hoya’s first fight in the 147-class since 2001 when he stopped Arturo Gatti in the fifth round of their match in Las Vegas.
As for the weight penalty, Pacquiao had a similar pact with Mexican rival Erik Morales in their rematch which was pegged at $500,000 per excess pound.
Dela Hoya and Pacquiao will meet in a 12-round non-title bout on December 6 at the MGM Grand Garden also in Las Vegas. Both fighters agreed to use 8-ounce gloves for the intriguing match-up.
Pacquiao, the current WBC lightweight champion, started his career as a 106-pound fighter. He will jump two weight divisions in fighting Dela Hoya, a one-time world middleweight champion.
Gacal said Pacquiao plans to leave between September 12 and 15 to kick off his training at the Wild Card Gym of famed trainer Freddie Roach.
