Money Man’s mega deal

Guerrero in the first of these bouts on May 4.
“Mayweather’s new deal is by far the biggest in the sport of boxing,” said Mayweather’s promotions company.
The specific financial terms of the deal were not disclosed. The Guerrero fight will be Mayweather’s first since beating Miguel Cotto for the WBA light-middleweight title by unanimous decision in May last year, extending his record to 43-0 (26 KOs).

The American then served a two-month prison sentence for domestic violence before he was released on August 3.
The new television deal sees Mayweather, who holds the WBC welterweight and WBA light-middleweight belts, leave HBO for Showtime. He averages more than one million pay-per-view buys per event – more than any other boxer.

“At this record-setting PPV performance level, if all six fights contemplated by this deal occur, it will be the richest individual athlete deal in all of sports,” added the statement from Mayweather’s promotions company.

Mayweather has, for several years, been the highest-paid athlete in sports, not just boxing.
But Leonard Ellerbe, the CEO of Mayweather Promotions, said the multi-fight deal the superstar boxer signed with Showtime Sports will take it to another level.

Mayweather rejected a multi-fight deal from long-time television partner HBO to sign with arch-rival Showtime. His first bout under the terms of the new deal will be on May 4 in Las Vegas on Showtime pay-per-view against  Guerrero at the MGM Grand Garden.
In June, Forbes ranked Mayweather atop its 100 highest-paid athletes list with earnings of US$85 million.

“This is an enormous deal and – and I want you to use all of these words – Showtime really, really, really, really, really stepped up in what they offered Floyd,” Ellerbe said. “The actual terms are confidential, but the deal (Showtime) offered, from top to bottom, was substantially better than what we received from HBO. Substantially better. They made it clear, without a doubt, that Floyd Mayweather (Jnr) is their guy and that they wanted to be in the Floyd Mayweather business.”

Mayweather turns 36 on Sunday.
Ellerbe laughed and said, “This is quite the nice early birthday present for Floyd.”
Mayweather, he said, “is skinning and grinning right now.”

The deal is a coup for Showtime Sports general manager Stephen Espinoza and the network, and a body blow to HBO. Mayweather had been with HBO from the beginning of his career after he won a bronze medal at the 1996 Olympics in Atlanta. His 2007 fight with Oscar De La Hoya smashed all existing pay-per-view records, selling more than 2.5 million units. He’s averaged more than 1 million pay-per-view sales per fight over the last six years. Ellerbe said Mayweather had been loyal to HBO, but suggested that HBO may have been taking its star for granted.

“Floyd made a business decision that is best for him and best for his family,” Ellerbe said. “Floyd had a tremendous amount of success on HBO and he appreciates everything they’ve done for him over the last 17 years. – AFP.