Pacquiao Honors Arum Contract,

Snubs Golden Boy Contract,

Nixes Finkel's Contract Renewal
 

Written By Philippine Correspondent Homer D. Sayson     Legally-troubled Manny Pacquiao made two major announcements yesterday: he will honor his contract with Bob Arum's Top Rank, not the previous one he signed with Golden Boy Promotions, and he is also not retaining the services of manager Shelly Finkel, whose contract with the Filipino fighter runs out Jan. 31.

He signed two promotional contracts. One with Golden Boy Promotions on September, and other with Top Rank on November.

Boxing sensation Manny Pacquiao's errant pen is the object of an on - going   legal dispute between the two promotional giants. But yesterday in Manila, at a brief press conference, Pacquiao finally declared which contract he will honor.

"We are here to announce that my promoter is Top Rank," said the Filipino southpaw, judged by many as boxing's best, pound-for-pound.  A report said Pacquiao received a $1 million signing bonus, double what Golden Boy is believed to have offered. 

Pacquiao also announced that Shelly Finkel's managerial contract will not be renewed once it expires this Jan. 31. But Pacman made it implicitly clear that Freddie Roach will be retained as his trainer.

Bob Arum, Top Rank's CEO, promised to pursure a Pacquiao fight with Marco Antonio Barrera, one of the most highly-anticipated bouts for 2007. "We will offer Barrera and Golden Boy a guaranteed purse of $2.5 million plus a share of pay-per-view revenue," Arum said.

Another Pacquiao option, Arum said, is a blockbuster at the Wynn in Macau, China against a still to be determined foe.

But Pacquiao's association with Top Rank is not etched in stone. Arum conceded that his company may still lose to Golden Boy. Arum , however, assured that Pacquiao will be spared from any financially liability arising from such legal loss.

Golden Boy Promotions had earlier offered Pacquiao to fight Barrera for a purse of $5 million. Now that Pacquiao has chosen to stick with Top Rank, GBP will move forward with a March 17 card pitting Barrera against Juan Manuel Marquez. (Homer D. Sayson)