Even Hollywood and political bigwigs will have to pay for tickets to the scheduled 12- round fight at the MGM Grand Garden Arena, noted Arum. “Never seen anything like it,” said the 83-year-old Arum, a Harvard-educated lawyer who started promoting boxing in 1966 starring Muhammad Ali.
The big bosses at the MGM Grand will have control of the tickets and there is a plan to reconfigure the 16,800-seat venue to accommodate more fans.
While tickets haven’t gone on sale, the cheapest, stressed Arum, will be priced at $ 1,000, which is five times during the normal Pacquiao fight.
Get this.
The coveted ringside seat will be sold at $5,000 and Arum notes that there are already tons of inquiries from people who expect to resell them at $25,000.
“I heard the cheapest ($ 1,000) can be sold at $4,000,” added Arum.
Even the supposed big-time gamblers will have to flex more muscle in convincing the MGM bosses that they deserve to be given free tickets to the fight that is expected to gross close to $400 million. Mayweather is guaranteed a paycheck of $120 million, while Pacquiao gets at least $80 million.
After everything goes into the pot, meaning the pay-per- view sales, closed circuit, gate receipts, broadcast rights and other money-making schemes get all accounted for, the two fighters will get their respective cuts.
By the time Mayweather gets his prize, the money could exceed $150 million, according to the New York Daily News, and Pacquiao might wound up pocketing over $ 100 million.
Indeed, the numbers are staggering.(N. Giongko, mb)
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