By Lem Satterfield, FanHouse
Unbeaten Floyd Mayweather and Manny Pacquiao will contest their megabout for Pacquiao's WBO welterweight (147 pounds) title on March 13 at the MGM Grand in Las Vegas, according to sources with knowledge of the decision.
"It's the MGM. It's definite," said a source.
The MGM was chosen over the Dallas Cowboys' Stadium, whose owner, Jerry Jones, had offered $25 million to host the bout. The promoters of both fighters, however, had indicated that they felt the MGM's offer could surpass that of Jones.
The choice of the MGM Grand, whose deal specifications are unclear, is largely based in both fighters' familiarity with the location as well as their past success there.
News conferences already had been planned for Jan. 6, followed by one in Los Angeles two days later on Jan.8, the sources indicated.
Both Pacquiao (50-3-2, 38 knockouts) and Mayweather (40-0, 25 KOs) were in agreement in principle with all of the fight deal's negotiation parameters, including a 50-50 financial split, competition at the 147-pound limit, eight-ounce gloves, and an Olympic-style random drug test at the request of Mayweather's camp.
Mayweather, a 32-year-old who is being represented by Golden Boy Promotions' Richard Schaefer in the negotiations, is a five-time champion, with a 6-0 record at the MGM that includes two knockouts.
The 30-year-old Pacquiao, a winner of seven crowns in as many weight divisions, is 3-1-1 at MGM.
Last week, The Los Angeles Times, citing a source involved in the site talks, spelled out a scenario in which the MGM Grand would generate $28 million in live-gate sales, offer 40,000 closed-circuit seats through MGM/Mirage properties, and charge $100 a head for a possible $4 million surplus -- a total worth of around $32 million.
Source: boxing.fanhouse.com
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