Murad Muhammad and JAB Meet over Pacquiao Papers
15.01.04 - By Keith Terceira: Immediately after reports started surfacing that Freddie Roach had threatened to leave the Pacquaio camp because of non-payment of the correct percentage of training fee’s and the supposed unfair treatment of Pacquiao by Muhammad , JAB (Joint Association of Boxers) contacted us and jumped in to take a stand on the controversy. Founder Eddie Mustafa Muhammad issued a statement and invited M&M Sports promoter Murad Muhammad to the offices of JAB Attorney Walter Kane in Manhattan, New York. Murad Muhammad spent a few hours going over the documents with Kane last Thursday . Kane discussed with us the results of the meeting.
Article posted on 15.01.2004
“Murad came in, which we appreciate, and spent a couple of hours, he showed us some documents “ Kane began” We would like to see Pacquiao as well”
One of the contentions of the Freddie Roach interviews is that Murad came to the dressing rooms just prior to the fight and intimidated Manny into signing a contract to fight Barrera. Roach also made statements to the press that it was the first time Manny had seen the $700,000 dollar figure that Murad was to receive. According to the documents shown that does not seem to be the case.
“ One of the documents that we were shown does say that the fight was for $700,000 and it was dated well before the fight, so I know that he was not surprised by the figure on fight night. Pacquiao signed that contract in advance and knew that the fight was worth &700,000. In the interest of fairness that much I can say.” Kane disclosed
I asked Walter if in his opinion it was definitely the case in his legal opinion that Manny was aware of the figure.
“Yes, that I can tell, the documents showed that, a standard contact dated October 16th shows the $700,000 figure, another Texas Contract dated October 21st shows the $700,000 dollar figure and both are signed by Manny Pacquiao. Also a wire transfer to the Philippines for 25,000 dollars.”
As far as the amount paid to Manny in total Attorney Walter Kane was helpful in telling us that he did see a wire transfer of funds to the Philippines.
“ Murad Muhammad showed us a wire transfer to a lawyer named Charles Carpentier for $455,000 dollars. A letter dated 1-7-04 and it said I wired Manny Pacquiao on November 19th $455,000 dollars For a fight on November 15th. The wire transfer was sent to Philippine Boxing LLC.”
MY TAKE ON THIS;
Walter Kane and JAB took a stand and rather than just mouth words to the press and went to work to meet with Murad and offer to meet with Manny, that is a step in the right direction for Boxing in general. Unless someone comes up with proof of tampering with the documents that Muhammad has shown then this places the burden of this fiasco directly on the shoulders of Freddie Roach and Manny Pacquiao.
There are two scenarios left in my opinion that exist when it comes to this issue.
1. That Freddie Roach misinterpreted a conversation that took place the day of the fight between Murad and Manny over the Golden Boy contract and the resigning needed to protect Murad and M&M sports .
That misinterpretation caused Roach to believe that Murad was doing something underhanded and in the best interest of Pacquiao, Freddie came to what he believed to be his rescue. In a perfect world this noble gesture would be understandable and create an avenue to a peaceful resolution for all. That does not explain why Roach was under the impression that Manny was only receiving $350,000 and why he got involved with contract talks to a fighter he knew was already under an exclusive contract with a promoter.
2. This scenario is probably more likely A; Manny Pacquiao and Nazario attempted to retain as much as possible of the biggest payday of their career and disclosed to the Camp the first offer and not the last Muhammad brought them. $350,000 then when subtracting the 25,000 advance and the questionable 20,000 “insurance policy “ it became Roach‘s $305,000. B. Based on that Roach jumped in thinking that Manny was being screwed and got a whole host of people involved in talks to circumvent the M&M contract on that belief. Murad Muhammad thinking that the whole thing would blow over did not immediately defend himself and show proof this was an error and a festering exploded into what we now see.
One needs to also take into consideration that 30% of $500,000 is $150,000 which is a normal managers percentage. Could the division over funds simply be that Elorde wanted his percentage separated from Manny’s. Could this whole bloody mess be an accounting issue and not a conspiracy to screw Pacquaio.
Whatever the case may be I am satisfied that although some numbers quoted by Muhammad as a bonus may be a contracted agreement for TV rights in the Philippines, that he has been forth coming.
I can not begrudge a promotional company making what turns out to be $140,000 dollars out of $700,000 they are in business to do business, the next time you purchase a car ask the owner how much the markup is and what profit they made see if they answer you at all, let alone show you their invoice.
I do not understand how a sanctioning body can charge a champion $20,000 for “insurance” not to lose a belt in another weight class . That may need more investigating than this well explored issue. I also do not understand why HBO choose to announce the terms of a promoters agreement . That was out of character and needs some attention by the press. Could they have been talking to Roach, Kahn and Ten Count? Just a question for some brain exercise.
The onus is on the management of Manny Pacquaio to show the world now, how and why the monies were structured so to warrant 150,000 dollars in expenses dropping the purse to 305,000 instead of 455,000 he was paid. That is if they even care what we all think considering it is not our business what so ever what Pacquiao does with his money. If Roach's agreement calls for Manny to pay 10% then Roach gets it from Pacquaio not M&M this case has closed on Murad and now turns to Pacquiao, Roach, Elorde, and Nazario. Hopefully the on again, off again, employment of Roach will be cleared up prior to the purse bid due shortly.
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