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Sunday, July 26, 2009

Sanction fee "gate" for Pacquiao - Cotto; death of Vernon Forrest

Sunday morning I was informed by a good source (NY Examiner Michael Marley) that the $400,000 sanction fee WBO welterweight champion Miguel Cotto was balking at was actually "only" $150,000 and it looks as if we finally have a real fight on our hands November 14.

My last two columns used the wrong figure and I have tried to make the correction.

I don't know if the $150,000 is a flat fee or if it could rise if the fight is a big success. The figure comes from 3% of the fighter's purse.

Top Rank will also owe the WBO around a $40,000 sanction fee and pays the WBO an annual membership fee.

I don't understand why neither promoter Top Rank nor the WBO made the correction much earlier when they obviously saw the media running with the wrong information. No real harm done. Let's get to the fight already.

I was sorry to read about the murder of Vernon Forrest this morning. I really didn't know him. I saw him fight once in Austin, Texas (I saw his teammate Arturo Gatti there) and had a few random exchanges with him on facebook but I had a lot of respect for the former three-time champ and 1992 Olympic Team member. Injuries certainly held him back throughout his career. He was well-liked within the boxing community.

Source: http://www.examiner.com/x-11372-Dallas-Boxing-Examiner~y2009m7d26-Sanction-fee-gate-for-Pacquiao--Cotto-death-of-Vernon-Forrest

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