By John F. McKenna (McJack): In an article in the Philippines Inquirer Times on Wednesday evening, June 1, it was reported that Pound for Pound King Manny Pacquiao has settled a defamation lawsuit against Oscar De La Hoya, Golden Boy Promotions CEO Richard Schaefer and Golden Boy Promotions itself. The case against Floyd Mayweather, His father Floyd Mayweather Sr and Uncle and trainer Roger Mayweather will continue and is ongoing.
Pacquiao’s adviser Michael Koncz stated that Manny was very happy that his differences with Dela Hoya, CEO Michael Schaefer and Golden Boy Promotions had been settled and that it is now behind him.
Top Rank promoter Bob Arum said that he was unable to divulge the terms of the settlement, but he too was happy that things had been resolved as it would allow Top Rank and Golden Boy Promotions to work together again.
De La Hoya and his group apologized for statements accusing Pacquiao of using performance enhancing drugs. De La Hoya released a statement after the settlement which said “We wish to make it crystal clear that we never intended to claim that Manny Pacquiao has used or is using any performance enhancing drugs and further state that we have no evidence whatsoever of such use.”
The statement also said that “Manny Pacquiao is one of the greatest fighters of all time, and we apologize if anyone construed our prior remarks as claiming in any way or even suggesting that Manny uses or has used performance enhancing drugs.”
As for the trilogy between Manny Pacquiao and Juan Manuel Marquez, Arum said that the unprecedented promotional tour would begin in late August and go into the first week of September. The tour will begin in Manila with possible stops in Singapore, Abu Dhabi, London, New York and Los Angeles before ending in Mexico City.
The settlement that Top Rank and Golden Boy Promotions came to makes everyone happy and the statement that was released was in legalistic language to ensure covering all bases. The reasons for the settlement are many. As the statement said, there is no evidence nor has there ever been any evidence that Manny Pacquiao has ever used performance enhancing drugs. The settlement benefits both Top Rank and Golden Boy Promotions in that it will allow both entities to work with each other. That is a financial plus for both parties. The fact that both parties came out of the situation smiling speaks volumes and down the road there are possible match ups that can now be worked out.
That will benefit the millions of fans who follow boxing
The fact that the lawsuit against the Mayweather camp is ongoing puts increasing pressure on Floyd Mayweather. At this point the one thing he does not need is additional legal problems and more things to worry about. Meanwhile Manny Pacquiao, who racked up twenty million dollars in the Mosley fight and will earn another twenty million dollars against Marquez is “crying all the way to the bank.”
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