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Floyd Mayweather at training camp |
Floyd Mayweather
Mayweather Promotions
Executives: Leonard Ellerbe
Advisor: Al Haymon
When Floyd Mayweather turned pro in 1996, he made the biggest decision of his career up until that point. Floyd decided to sign with Bob Arum’s Top Rank Boxing. At the time, Floyd was just another boxer in Top Rank’s stable.
Thanks in part to the management of James Prince, Floyd’s early career flourished. Floyd stayed with Prince for several years (until 2002), training and soaking up game from the founder of Rap-A-Lot Records.
By 2006, Floyd had grown into a boxing superstar and had become disappointed with Top Rank’s payouts. He sued Bob Arum to get out of his contract and sensing his value; Floyd turned down an $8 million-dollar fight with Antonio Margarito.
With the guidance of shadowy boxing figure Al Haymon, Floyd exercised a clause in his contract and purchased himself out from Top Rank for $750,000. Floyd has profited from Al Haymon’s counsel when it comes to his career.
With Al Haymon’s guidance, Floyd Mayweather established Mayweather Promotions with Leonard Ellerbe as the CEO.
In addition to being one of the biggest urban concert promoters, Haymon conceived and ran Budweiser’s Super Fest, from 1979-2010. Thanks to Haymon’s expertise with live events and boxing, Floyd gets a percentage of everything sold at his fights, from the pretzels to the PPV buys.
Last year Mayweather Promotions took further control of Floyd’s career. Mayweather Promotions applied for and received their permit to promote fights in Las Vegas, ending a co-promotional deal with Oscar De La Hoya’s Golden Boy Promotions.
“The impact that Floyd Mayweather has had on this sport is immeasurable. People won’t be able to appreciate that until he retires,” Leonard Ellerbe explained. “He’s done so much for this sport. He’s given fighters a platform to say to other promoters that they deserve the lion’s share of the money. He’s brought more sponsorships to the sport.”
Floyd has earned over $450 million over the course of his career, with most of the money coming in since 2006, the year he bought himself out of his contract with Top Rank.
With the exception of his record label, Lil James and Tha Landlord, invested in Bad Medina makeup line, as well as real huge investments in real estate.
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Manny Pacquiao at training camp |
Manny Pacquiao
MP Promotions LLC.
Executives: Top Rank’s Lucia McKelvey
Advisor: Michael Koncz
Manny Pacquiao’s business is structured much different than Floyd Mayweather’s. Manny went pro in 1995 and started out his career with promoter Murad Muhammad.
A contractual dispute with Muhammad ended their relationship and Manny moved on to work Shelly Finkle until 2006 when he too, signed with Bob Arum’s Top Rank.
Since then, Manny has been managed by Michael Koncz, the man who negotiates the deals with Bob Arum’s Top Rank Boxing, on behalf of Manny’s MP Promotions company.
Bob Arum promoted his first fight with Muhamed Ali in 1966. Since then, Arum has become one of the best-known boxing promoters in the world. Since in 1986, Top Rank promoted over 400 fights and 180 championship match-ups.
Manny has earned over $300 million over the course of his career, the bulk of his income coming during his time with Top Rank Promotions. However, almost 27% of his earning from matches go top Top Rank.
Manny’s revenues are also taxed in the United States and his hometown of the Philippines.
He fired his manager Michael Koncz in 2011 and in 2013, Manny was accused of owing over $75 million in taxes. He ultimately re-hired the Canadian, but Manny’s deals with his advisors and Top Rank have been tumultuous since at least 2006.
That is when Oscar De La Hoya’s Golden Boy Promotions attempted to sign the boxer away from Top Rank. The move triggered drawn out lawsuits over the course of the Manny’s career, which helped delay the big fight with Mayweather.
Most of Manny’s legal issues ended in 2011 when Golden Boy and Top Rank reached a settlement. Then in 2014, Manny re-signed with Top Rank for another two years.
“My entire career defines my legacy; I have already accomplished great achievements in my career while excelling in different weight divisions,” Manny Pacquiao said. “This fight is an additional achievement in my career; it’s the biggest fight in boxing history.”
Manny has a number of ventures as a businessman in General Santos City, in the Philippines. Manny owns a gas station, a high-end fashion boutique and several ventures with his wife, Jinkee.
The couple also operates the Roadhaus Economy Hotel and the JMP business building. Manny is also a backer of BluGre, a brand of coffee shops with plans to open cafes around the world.
Last year, Manny copped a stake in a company named One FC, which promotes MMA fights throughout Asia.
BIG DEALS
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| Floyd Mayweather’s match with Canelo Alvarez holds the current record with $152 million in PPV receipts and around $200 million for total revenue. Floyd will earn at least $150 million for 36 minutes in the ring. The huge pay day easily makes Floyd Mayweather the highest-paid athlete of 2015. |
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| Top Rank’s Lucia McKelvey heads up the marketing for Manny Pacquiao. The boxer has signed deals with Nike, Foot Locker and Butterfinger. Over the course of his career, Manny has earned over $30 million in endorsement deals. Manny is expected to earn over $100 million for 36 minutes in the ring. |
