This appears in the Tuesday, May 5, 2009 edition of Business Mirror.
Manny is Money in the Bank
by rick olivares
by rick olivares
Most fight prognosticators expected the fight to go at least five rounds. It lasted a shade under three minutes and goes to show the unpredictability of the sport. And as with every Manny Pacquiao post-fight, people ask who’s next and even more intriguingly, how much will the People’s Champ rake in?
The new junior welterweight champion threw 127 punches in 359 seconds. Seventy-three of them landed on the grossly overmatched Ricky Hatton who was knocked down three times with the last probably the proverbial last nail on the coffin on the Englishman’s boxing career.
So let’s count the cost:
Manny made $2 million per minute, $33,426 per second or $164,383 per punch.
When you convert it based on the latest exchange rate with the US Dollar, the $12 million purse (gross) adds up to a whopping and obscene PhP 584,400,000!
On the local side, Solar Sports Entertainment (not counting the figures from fellow local co-broadcast partner GMA-7) is paying Pacquiao an additional PhP 60 million for the domestic broadcast rights.
That’s an additional PhP 10 million per minute and that would hike the total in gross figures to at least PhP 664,000,000!
A total of 50 local sponsors paid Php3-15 million for packages of the fight on Solar Sports/CS9.
For Solar Sports to break even for the fight, they must sell anywhere from PhP 80-90 million.
Even at the bare minimum of the packages, Solar Sports would have made PhP 150 million.
Abroad, Top Rank and Golden Boy Promotions in conjunction with Home Box Office (HBO) have come up with unique promotions from the serialized Pacquaio-Hatton 24/7 to downloads on iPods as well as print ads in magazines like ESPN the Magazine, USA Today, the Los Angeles Times, and the New York Post among others. And they are expecting at the very least one million pay-per-view buys at $50 each for a total of $50,000,000 that should take care of the boxers’ purses and other promotional expenses with a tidy leftover. And that’s not counting ticket sales, on site promotions, and advertising. That is not bad considering the current recession.
In an age when boxing has lost its luster owing to the lack of quality Americans in the sport, fighters like Manny Pacquiao are a promoter’s dream.
You could say that it’s Manny in the bank.
The new junior welterweight champion threw 127 punches in 359 seconds. Seventy-three of them landed on the grossly overmatched Ricky Hatton who was knocked down three times with the last probably the proverbial last nail on the coffin on the Englishman’s boxing career.
So let’s count the cost:
Manny made $2 million per minute, $33,426 per second or $164,383 per punch.
When you convert it based on the latest exchange rate with the US Dollar, the $12 million purse (gross) adds up to a whopping and obscene PhP 584,400,000!
On the local side, Solar Sports Entertainment (not counting the figures from fellow local co-broadcast partner GMA-7) is paying Pacquiao an additional PhP 60 million for the domestic broadcast rights.
That’s an additional PhP 10 million per minute and that would hike the total in gross figures to at least PhP 664,000,000!
A total of 50 local sponsors paid Php3-15 million for packages of the fight on Solar Sports/CS9.
For Solar Sports to break even for the fight, they must sell anywhere from PhP 80-90 million.
Even at the bare minimum of the packages, Solar Sports would have made PhP 150 million.
Abroad, Top Rank and Golden Boy Promotions in conjunction with Home Box Office (HBO) have come up with unique promotions from the serialized Pacquaio-Hatton 24/7 to downloads on iPods as well as print ads in magazines like ESPN the Magazine, USA Today, the Los Angeles Times, and the New York Post among others. And they are expecting at the very least one million pay-per-view buys at $50 each for a total of $50,000,000 that should take care of the boxers’ purses and other promotional expenses with a tidy leftover. And that’s not counting ticket sales, on site promotions, and advertising. That is not bad considering the current recession.
In an age when boxing has lost its luster owing to the lack of quality Americans in the sport, fighters like Manny Pacquiao are a promoter’s dream.
You could say that it’s Manny in the bank.
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