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Cash is the real king of the boxing ring

Friday, May 01, 2015 - 02:32

The boxing match between Floyd Mayweather and Manny Pacquiao would not have happened were it not for the huge sums of money involved, and the many people set to cash-in on the fight of the century. Bobbi Rebell reports.

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The so-called fight of the century between undefeated American Floyd Mayweather, Jr. and Filipino Manny Pacquiao at the MGM Grand Garden Arena is expected to be the richest prize fight of all time Five years in the making, it is expected to generate $300 million or more in pay-per-view revenue, with at least three million customers paying to watch the action. Mayweather is looking at a payday of at least $180 million, with underdog Pacquiao pocketing more than $120 million. And then there are the tickets for the actual fight: NYU sports professor Robert Boland: SOUNDBITE: ROBERT BOLAND, PROFESSOR, NEW YORK UNIVERSITY (ENGLISH) SAYING: "Casinos, that initially bought all the tickets to give or sell their high rollers, have taken even an extra step. They are selling it now to their high rollers, who have a $250,000 betting line in their hotel at 10,000 a ticket. The top price on Stub Hub is 300,000 for ringside tickets." Jason Rohloff is the senior coordinator of Stubhub New York: SOUNDBITE: JASON ROHLOFF, SENIOR COORDINATOR OF STUBHUB NEW YORK, SAYING: "Not a lot of tickets are available, because it's a small venue. It's not like the Super Bowl in Phoenix, where there's 80,000 tickets to sell. So, there's significantly fewer tickets out there, and they only released tickets about a week ago." And there's a big spillover effect from the ring: businesses like bars and restaurants that show the fight. SOUNDBITE: ROBERT BOLAND, PROFESSOR, NEW YORK UNIVERSITY (ENGLISH) SAYING: "It seeps very greatly into the broader economy. To some degree, economists would call it a little bit of substitution. You won't go to a movie, you will go to this fight on Saturday night, but there are chicken wings and beers to be drunk all over the United States, and bars will be making money and having record nights off of it." Dave and Buster's paid thousands for the rights to air the fight at its restaurants across the country. REPORTER BRIDGE: BOBBI REBELL, REUTERS CORRESPONDENT (ENGLISH) SAYING: "Dave and Buster's says, reservations have been selling out across the country. You can get in for as little as $20, but, they say, they have been selling a ton of $100 VIP tickets, which, they say, are like ringside seats, complete with open bar, a ton of food, and great seats for the fight. " Operations Manager Ed Forler: SOUMDBITE: ED FORLER, OPERATIONS MANAGER, DAVE & BUSTER'S (ENGLISH) SAYING: "This is the most premiere event that we have had probably since we got into the sports bar business. Nothing has compared to this. This can go back centuries, I mean, you go back to the thrilla in manilla between Frazier and Ali. That is how big this hype is. So, there is nothing on our charts that we can even compare this to." As for gambling on the Las Vegas based fight, sources tell Reuters it will be one of Nevada's most heavily bet-upon sporting events, ranking right up there with the Superbowl.

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Cash is the real king of the boxing ring

Friday, May 01, 2015 - 02:32