Mayweather-Pacquiao fight ticket dispute resolved
Floyd Mayweather and Manny Pacquiao finally reached an agreement on contract details on Wednesday that has paved the way for public tickets to be put on sale for their May 2, mega-fight at the MGM Grand in Las Vegas.
A dispute between Top Rank, Mayweather Promotions and the MGM Grand was threathening to jeopardise the fight but a conference by Leslie Moonves, President and CEO of CBS Corporation, helped resolve all outstanding issues, Top Rank chairman Bob Arum told Yahoo Sports on Wednesday.
“We resolved all of the issues and now we’re waiting for the paperwork,” Arum said. “I said on the call that if what we agreed upon is in the paperwork we receive, we will sign it and the tickets will be released.”
All parties signed the contract just before midnight on Wednesday.
Arum said that 500 tickets will be put on public sale. The capacity of MGM Grand is 16,800 seats, with the face value of tickets ranging from $1,500 to $10,000.
The remainder of the tickets will be split up as agreed upon in the original negotiations that led to a signed fight contract by Mayweather and Pacquiao in February.
Under that deal, according to officials not authorized to discuss the arrangement publicly, MGM Grand was to receive 40% of the tickets, with Mayweather Promotions and Arum’s Top Rank Inc. equally splitting the remainder.
Many of those tickets will be placed on the secondary market, sold at prices that could reach $100,000, although the time crunch caused by the ticket delay could lessen the value.
A new site agreement contract was crafted to stage the bout at MGM Grand, and in the original language that was forwarded to Top Rank, the promoter and Pacquiao would receive 2,000 fewer tickets than they originally agreed upon, according to an official not authorized to talk about details of the dispute.
On Tuesday Arum threathened that he was un unwilling to sign a site agreement deal unless it exactly reflected the ticket allocation agreement that was previously made.
“We will have a fight, even if it’s only attended by reporters sitting in their seats,” he said.
But on Wednesday Arum announced, “Everything is resolved ... we orally agreed and are waiting on the actual contract.”
Ellerbe of Mayweather Promotions said confirmed he was at MGM Grand finalizing the deal.
Meanwhile, it was revealed that closed circuit tickets, which will be shown only at MGM properties in Las Vegas, will also go on sale.
The closed circuit viewing of the fight will be available at the MGM, Bellagio, Aria, Vdara, The Signature, Mandalay Bay, Delano, Monte Carlo, Mirage, New York-New York, Luxor, Excalibur and Circus Circus in Las Vegas. It will also be available at all other MGM Resorts properties around the world.
There will be between 35,000 and 50,000 closed circuit seats available in Las Vegas alone, with the figure closer to the higher end.
However, the sale of tickets to the live event will be extremely small and likely only to be around 500.
With inputs from Los Angeles Times and Yahoo
Ticket dispute resolved, 500 tickets on sale for public