Financial advantage for Pacquiao-Margarito in Mex
BySeconds Out
Published 17/07/2010 at 10:57 GMT
By Paul Upham: If a fight with Floyd Mayweather Jr is now dead, boxing promoter Bob Arum revealed on Friday night that there is a financial advantage for Manny Pacquiao to face Antonio Margarito next in Mexico.<br /><br />“If the fight is in the United States the (tax) withholding is 30%,” explained Arum. “We are not obligated to withhold anything obviously if the fight is in Mexico.”&
BOXING 2006 glove
Image credit: Imago
By Paul Upham: If a fight with Floyd Mayweather Jr is now dead, boxing promoter Bob Arum revealed on Friday night that there is a financial advantage for Manny Pacquiao to face Antonio Margarito next in Mexico.
“If the fight is in the United States the (tax) withholding is 30%,” explained Arum. “We are not obligated to withhold anything obviously if the fight is in Mexico.”
32 year-old Margarito had his request for a licence tabled by the Nevada State Athletic Commission on 9 July, advising the former welterweight world champion that he must first reapply for a licence in California.
The California State Athletic Commission revoked Margarito’s license after his 24 January 2009 fight with Shane Mosley, where illegal substances were found in his hand wraps prior to the fight. Margarito has maintained his innocence, putting the blame on his then trainer Javier Capetillo.
If Margarito is chosen by Pacquiao as his next opponent, but the Mexican cannot gain a licence to fight in the USA, Arum said the match would be held in a new arena that has been built in Monterrey, which is the third largest city in Mexico and the capital of the state of Nuevo León.
“Our sponsors Tecate in Mexico and the Governor of the State are all making major efforts to bring that fight to Monterrey,” revealed Arum.
Paul Upham
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