Schaeffer said he met with Top Rank President Bob Arum, Pacquiao’s promoter, for two hours Wednesday but both sides could not come up with a consensus agreement about the deals of the fight which would be slated for December 6 at the MGM Grand in Las Vegas.
The three issues stalling the deal are the size of the boxing gloves, De La Hoya’s weight limit, and the financial split.
“Oscar hasn’t made 147 pounds in almost ten years,” said Schaeffer to the Asian Journal during the Shane Mosley vs. Ricardo Mayorga press conference. “And we know from experience that a boxer could lose the match on the scales. The size of the gloves is also an issue. Oscar is used to wearing 10 ounce gloves while Manny usually wears 8 ounce gloves in his fights.”
“[And] the financial split is what it is,” he said. “Every time I negotiate a De La Hoya fight it’s the same thing. Suddenly the opponent feels they should make Oscar [big] money and I feel certain people have a market value.”
He declined to discuss the specifics of the proposed fight purse and other financial aspects, adding, “we guarantee a record purse for Manny Pacquiao, multiple times more than he has ever made so far. We think it’s a fair deal.”
Since winning his match against Steve Forbes in May, the Golden Boy De La Hoya has been looking for a grand finale fight before he rides off to the retirement sunset. A proposed re-match with Floyd Mayweather Jr. was rebuffed when Mayweather abruptly retired. Mexican counterpart Antonio Margarito lies waiting in the wings but after impressively thrashing Puerto Rican champion Miguel Cotto to a bloody pulp, De La Hoya would be best served to stay away from him.
Meanwhile, Pacquiao has also been looking for an opponent since his dominating performance against Mexican American David Diaz. That night, Pacquiao became the first Asian to capture four world titles in four different weight classes. The 29-year-old WBC Lightweight Champion’s first opponent choice was British contender Ricky Hatton at 140 pounds, but Hatton is already slated to fight New York champion Paulie Malignaggi in November.
Pacquiao’s other possible fights: a rematch with Juan Manuel Marquez would be out the door, Venezuelan knockout artist Edwin Valero is having a hard time getting medical clearance in Nevada and Humberto Soto lost his most recent match albeit by a technicality.
At first, a possible Pacquiao vs. De La Hoya bout was a only a pipe dream of fans and boxing enthusiasts wondering “what if” match ups but the idea began to pick up steam when Pacquiao’s trainer Freddie Roach said Pacquiao could fight at 147 pounds, the welterweight class. In his last two matches, Pacquiao has weighed in the night of the fight at 146 and 147 pounds, respectively.
Schaeffer said that he’s confident that a Pacquiao vs. De La Hoya deal could be done.
“We have to do a lot of work on those three issues: the size of gloves, the weight – either at 149 or 150 pounds and financial split,” said Schaeffer. “I’ll say I’m cautiously optimistic. If I were to use percentages, I would say there’s a 75 percent chance a deal will be done in the next few weeks. I’ll be sitting down with Oscar next week. Arum will discuss this with Manny [when he gets back from the Olympics] and I’m sure in a few weeks everybody will know the outcome.”