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Gambit808
In this article written by John Chavez of theboxingtruth.com title "The Truth Behind Pacquiao & Arum's Bullshit Stadium..." he touches on Bob Arum & co. latest excuse for for halting the mega fight between Floyd Mayweather Jr. & Manny Pacquiao, favoring a later date in May so that a 40,000 seated out door arena could be built to increase live gate sales...


A GOOD READ, check it out...


Jan 17, 2012 - “The extra time is needed for construction of an arena, said Arum, claiming the fighters could generate an extra $40 million by fighting at a 40,000-plus-seat venue on the Las Vegas Strip rather than holding the bout at the 16,000-seat MGM. "You don't throw $40 million away," Arum said.” - Latimes.com


May 5th was the date proposed by Floyd Mayweather Jr. to Manny Pacquiao for a fight at the MGM Grand Garden Arena.

Manny Pacquiao, Bob Arum, Michael Koncz, and Freddie Roach have all stated that a temporary stadium must be built for this mega-fight in order to maximize the live gate revenue which would in-turn make May 5th ineligible as a fight date.

Over 75 percent of the revenue for this event will be derived via television ala Pay-Per-View, closed circuit, delayed broadcast and international distribution rights. The remaining 25 percent will be derived from sponsorships, memorabilia, and the live gate.

Contrary to popular belief, for boxing events of this magnitude, the general public has basically zero access to tickets at face value. When I state general public I’m referring to Joe Boxing Fan who logs onto the MGM Grand website the minute tickets go on sale. Oscar De la Hoya vs. Floyd Mayweather Jr. would sell out the entire Arena within 3 hours of going “on sale” generating a $19 million gate. Ticket prices were listed at $2,000, $1,500, $1,000, $750 and $350. This doesn’t include floor seats or true premium seating.

The truth of the matter is that the tickets to that event were indeed sold out within 3 hours.

The second truth of the matter is that an extremely high percentage of those tickets were sold directly to brokers who are in the business of selling high-demand sports event tickets at a premium to their face value. Ticketmaster listed some of the higher-quality seats at $2,000 face value but for those that remember, most decent seats for De la Hoya-Mayweather were being “scalped” at sky high prices of $5,000 to as high as $15,000 during the days leading up to the fight.

Utilizing some very simple math... a $19 million live gate divided by 16,000 seats equates to an average ticket price of $1,187 for the event. This is the average ticket price that the ticket brokers paid Golden Boy Promotions for hosting the event.

While the average ticket price might have hovered around $1,187... ticket brokers paid less than that average price for upper tier seats that ranged from $350, $750, and $1,000.

When discussing the remote possibility of a 40,000 seat stadium being temporarily constructed for the Mayweather-Pacquiao fight, one must remain cognizant of the fact that the amount of premium seating (ringside, visually acceptable floor seating, slightly elevated sight-line seating) at the MGM Grand Garden Arena and this mythical temp stadium would remain exactly the same or negligibly similar.

Repeat... the amount of premium seating that generates the majority of the live gate revenue for these type of events would remain exactly the same or negligibly similar.

When Team Pacquiao states that $40 million EXTRA would be generated on top of a $20 million gate should the fight take place at the MGM, they are stating that they believe ticket brokers are willing to pay more than an average of $1,600 per seat for the extra 24,000 nose bleed seats built in this stadium.

Floyd Mayweather Jr. was lambasted when it was rumored he demanded $100 million in order to fight Manny Pacquiao. He received criticism due to the unrealistic figure being thrown out.

Now Team Pacquiao is doing the same exact thing throwing out a completely unrealistic figure of $60 million for a live gate to this event.

There is no ticket broker around that is stupid enough to pay Bob Arum $1,600 for nose bleed seats. There is no ticket broker around that is stupid enough to pay Bob Aum $1,000 for nose bleed seats.

There might be a ticket broker that might guarantee Bob an average purchase price of $500 for all 24,000 nose-bleed seats. Remember, the broker buys these tickets with the notion that they want to resell them at a significant mark-up.

Once again... simple math would be 24,000 seats multiplied by $500 which equates to $12 million generated.

The cost of the stadium would run at a minimum of $7 million according to Bob Arum. This strikes me as a VERY low price for a 40,000 seat stadium being that Empire Field in Vancouver, BC (a temporary stadium) houses less than 30,000 fans and cost $15 million to construct. It also took 111 days to complete.

But just to keep it really pro-Manny let us include Arum's estimation with our simple math comprising of $12 million minus $7 million equates to an additional net income of $5 million for this whole, completely unnecessary and risky fiasco.

In summary... if Mayweather-Pacquiao goes to the MGM Grand Garden Arena, the fight might just break the record and generate a $20 million live gate with 16,000 seats which would equate to an average of $1,250 per seat. Team Pacquiao is stating that they can somehow generate an additional $40 million with 24,000 extra NON-premium seats at an even higher average price of $1,666 per nose bleed.

This is a complete fabrication and nonsensical statement made by Manny Pacquiao, Bob Arum, Michael Koncz, and Freddie Roach.

That’s a fact.

Mayweather might have ducked and dodged Pacquiao in the past but as of this very moment, it’s Pacquiao who is making up lies and excuses to not lace them up on May 5th.


DubC
Nice read. Thanks!
BigFightFan
I don't think Pacquio know what the fuck is going on. So I don't blame him or have anything negative to say about the guy. Just lmake the fight happen already
Cshel86
...appears to be a good read, but my A.D.D. is in full swing, so I'll read and respond later. In the meantime, if these guys never fight, then the only fight that Im interested in seeing between them, is "who will go broke first after boxing". Whoever's the last man standing in this situation, truly wins the war.
Cheesey1
Good stuff. Thanks.
thehype
$60,000,000.00 / 40,000 seats = $1500.00 per ticket

Nuff said!

laugh.gif
BoxingStill#1
QUOTE (thehype @ Jan 18 2012, 01:29 AM) *
$60,000,000.00 / 40,000 seats = $1500.00 per ticket

Nuff said!

laugh.gif


Lmao...

Wait.. what was the garanteed purse for Pac again?

I guess Bob isn't gonna take a hit no matter what the cost aye?

And I like the article,. With the exception of the ending.. I don't feel either fighter was ducking or dodging the other at any point.. I believe this whole fiasco has been the antics of one smart, savvy, money hungry laywer..

Manny is weak minded.. Bob Arum is a Master Jedi
mgrover
at the end of the day am sure 40,000 seats would make more money and a significant amount more money than 17,000 since double and some more.
Franchize
^^^ I'm mad you edited that comment and it still came out like that wtf.gif lol j/k

Anyway, I agree with Cshel. At 1st my ADD kicked in until a few things jumped out at me. 7 mill for a temporary stadium seems awfully low. Furthermore, who's paying this extra money to have it built? If we're negotiating, how are you going to MAKE me help you build an arena. Not to mention, why you risk the biggest fight of the last 15 years being ruined by outdoor interferences? Who fights outside anymore anyway?

With all this said, it was a good article to read but a few things still perplex me about Arum, even when trying to play devil's advocate.
#1 Mayweather is the biggest moneymaker in boxing despite Manny probably being the more "liked" fighter; and he became so AFTER leaving Bob Arum. With that said, what makes you think he's going to bow down to your ideas of making money when he's been doing better without you? Oscar and Floyd became the richest boxers in the world AFTER leaving Arum so why would they scrap their ideas and advisors to follow your bright ideas?

#2 The highest grossing non-heavyweight fight was Gay La Hoya vs Mayweather right? Held on May 5th @ the MGM Grand. Why would I want to follow the blueprint of a promoter and fighter who did numbers under mine? Fighting in Cowboy stadium was groundbreaking an all that but it didn't exactly blow Mayweather's fights out of the water. End of the day, Manny's most "epic" fights are against Marquez. 2/3 of the trilogy was held at the MGM Grand. Why is a problem all of a sudden?

#3 If you didn't even know who to contact.If you didnt even know whether Floyd would be out of jail or not. If you didn't know if Manny would be healed or not. If you didn't know if Mayweather had his guaranteed purse.If you already had 4 guys lined up for Manny to choose from. If Mayweather had allllllllll these variables that made him impossible to negotiate with......HOW IN THE FUCK DID YOU COME UP WITH THIS DETAILED, ELABORATE IMAGINARY STADIUM? Isn't that "putting the cart before the horse"? I mean that's like picking out a wedding venue for a girl who hasn't even given you her number yet.

End of the day, @ least the ambiguity has been taken out of the equation. Floyd is flat out calling Manny out and stating the who, what,when, and where.
Seek
QUOTE (Franchize @ Jan 18 2012, 10:11 AM) *
^^^ I'm mad you edited that comment and it still came out like that wtf.gif lol j/k

Anyway, I agree with Cshel. At 1st my ADD kicked in until a few things jumped out at me. 7 mill for a temporary stadium seems awfully low. Furthermore, who's paying this extra money to have it built? If we're negotiating, how are you going to MAKE me help you build an arena. Not to mention, why you risk the biggest fight of the last 15 years being ruined by outdoor interferences? Who fights outside anymore anyway?

With all this said, it was a good article to read but a few things still perplex me about Arum, even when trying to play devil's advocate.
#1 Mayweather is the biggest moneymaker in boxing despite Manny probably being the more "liked" fighter; and he became so AFTER leaving Bob Arum. With that said, what makes you think he's going to bow down to your ideas of making money when he's been doing better without you? Oscar and Floyd became the richest boxers in the world AFTER leaving Arum so why would they scrap their ideas and advisors to follow your bright ideas?

#2 The highest grossing non-heavyweight fight was Gay La Hoya vs Mayweather right? Held on May 5th @ the MGM Grand. Why would I want to follow the blueprint of a promoter and fighter who did numbers under mine? Fighting in Cowboy stadium was groundbreaking an all that but it didn't exactly blow Mayweather's fights out of the water. End of the day, Manny's most "epic" fights are against Marquez. 2/3 of the trilogy was held at the MGM Grand. Why is a problem all of a sudden?

#3 If you didn't even know who to contact.If you didnt even know whether Floyd would be out of jail or not. If you didn't know if Manny would be healed or not. If you didn't know if Mayweather had his guaranteed purse.If you already had 4 guys lined up for Manny to choose from. If Mayweather had allllllllll these variables that made him impossible to negotiate with......HOW IN THE FUCK DID YOU COME UP WITH THIS DETAILED, ELABORATE IMAGINARY STADIUM? Isn't that "putting the cart before the horse"? I mean that's like picking out a wedding venue for a girl who hasn't even given you her number yet.

End of the day, @ least the ambiguity has been taken out of the equation. Floyd is flat out calling Manny out and stating the who, what,when, and where.


Didn't read.






















Ok I lied, I read the first paragraph and the red text. I couldn't help it
Cshel86
Next thing you know, Arum will piece together another shitty in-house fight for this new stadium, and sell it to the public as "another PPV record breaker"...wait a minute!?!?!
mgrover
QUOTE (Franchize @ Jan 18 2012, 03:11 PM) *
^^^ I'm mad you edited that comment and it still came out like that wtf.gif lol j/k


yeah i know what you mean I was just like wtf when I worked it out properly lol
Cshel86
QUOTE (mgrover @ Jan 18 2012, 01:26 PM) *
yeah i know what you mean I was just like wtf when I worked it out properly lol



I think this is our answer...
mgrover
QUOTE (Cshel86 @ Jan 18 2012, 06:36 PM) *


I think this is our answer...


yep looks fairly bangable.
Cshel86
QUOTE (mgrover @ Jan 18 2012, 04:44 PM) *
yep looks fairly bangable.

laugh.gif
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