One of the biggest boxing promoters of all time is a man named Bob Arum, who’s in charge of Toprank Promotions – the company that promotes Manny Pacquiao’s fights.
A decade ago, Floyd Mayweather also fought under the Toprank banner. In 2006, Floyd was set to fight Antonio Margarito and was going to make a cool $8,000,000 for the bout. Instead, Floyd decided to put a $750,000 bet on himself by exercising a provision in his contract that allowed him to become a free agent, opening up the door to launch Mayweather Promotions and to promote his own fights.
The level of risk was way up, but so were the rewards.
While with Toprank, Floyd wanted $20,000,000 to fight Oscar De La Hoya. Bob Arum said:
“He wants $20 million for the De La Hoya fight? It’s not there. Sometimes, my man, you gotta know when to hold ’em and when to fold ’em.”
Floyd went on to make $25,000,000 for the fight, which cemented his bold move and laid the foundation for him to become the highest paid athlete ever…
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