supposedly this isn't the first time a group of investors from Dubai offered major bread to host the MAYWEATHER / PACQUAIO fight...
but "Ahole Arum" didn't like the terms in Section 2.2 "promotional rights' cause you know (tv licensing rights) is his food since the days of ALI
according to Boxing Insider an offer of a 150 million dollar purse was made in 2012 based on this so-called "sample contract" that was submitted anonymously to the website..take a look:
http://www.boxinginsider.com/columns/floyd-mayweather-vs-manny-pacquaio-sample-fight-contact-dubai/
PROFESSIONAL PRIZE FIGHT (BOXING MATCH) AGREEMENT
AGREEMENT made this ____ day of October, 2012, between the Royal Emirates Group, a Dubai, UAE Company (hereinafter referred to as “Promoter”) and Floyd J. Mayweather, Jr. a United States Citizen (hereinafter referred to as “Mayweather”), and Manny Pacquiao, a Philippines Citizen (hereinafter referred to as “Pacquiao”), Mayweather and Pacquiao collectively referred to as “Fighters” and all parties collectively referred to as “The Parties.”
RECITALS
WHEREAS, Fighters are professional boxers who wish to fight each other in a professional boxing match within the city of Dubai, UAE.
WHEREAS, Promoter wishes to finance, organize and promote a professional boxing match to take place within the city of Dubai, UAE.
WHEREAS, Fighters desire to receive and Promoter agrees to provide, the Services upon the terms and conditions set forth in this Agreement.
NOW, THEREFORE, in consideration of the mutual promises herein contained and for other good and valuable consideration, the receipt of which is hereby acknowledged, Promoter and Fighters agree as follows:
ARTICLE I: DEFINITIONS
Section 1.1 Definitions. Capitalized terms used herein without definition shall have the
meaning set forth in this Section 1.1:
“Affiliate” of a Person shall mean a Person that directly or indirectly (through one or more intermediaries), controls, is controlled by, or is under common control with such Person, “Control” (including the terms “controlled by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management policies of a Person, whether through the ownership of voting securities, by contract, indenture or credit arrangement, as trust or executor, or otherwise.
“Contest” or “Bout” shall mean a professional boxing match between Mayweather and Pacquiao sanctioned by a Governmental Authority to take place in Dubai, UAE.
“Governmental Authority” shall mean any federal, state, local, foreign international or multinational entity or authority exercising executive, legislative, judicial, regulatory,
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administrative or taxing functions of government or any Ruling Family of Dubai holding the title of King or Sheikh.
“Person” shall mean a natural person, partnership, corporation, business trust, Limited Liability Company, limited liability partnership, Joint Stock Company, trust, unincorporated association, joint venture or other entity (including a Governmental Authority).
“Purse” shall mean the compensation paid to Fighters in connection with Fighters’ participation in any bout promoted or otherwise arranged or financed by Promoter in its capacity as matchmaker or Promoter.
“Rating Agency” shall mean the International Boxing Federation, World Boxing Association, World Boxing Council, World Boxing Organization or Ring Magazine. For the avoidance of doubt, Rating Agency does not include an regional or national Affiliates of the Rating Agencies set forth in this definition.
“Representative” means, with respect to a particular Person, any director, officer, employee, agent, consultant, advisor, accountant, financial advisor, legal counsel or other person acting on behalf of, or with the consent of, that Person.
“Third Party” shall mean, with respect to the parties hereto, an unaffiliated Person.
Section 1.2 Interpretations. Each party acknowledges that it has had the opportunity to read and review this Agreement with counsel, and that this Agreement has been the subject of active and complete negotiations. This Agreement has been jointly authored and will not be interpreted to the benefit or detriment of any party based on authorship. Each definition in this Agreement includes singular and the plural and the word “including” (or any derivatives thereof) means “include but not limited to.” Any reference to a statute or regulation means such statute or regulation as amended at the time and includes any successor statute or regulation.
ARTICLE II: GRANTS OF RIGHTS
Section 2.1 Boxing Match.
(a) Fighters hereby agree to enter into a boxing Contest against each other at a venue to be determined in the City of Dubai, United Arab Emirates, on a day and time to be determined, in the year 2013 but no later than the month of May of that year, for a 12 round decision Title Bout.
(b)
Fighters hereby agree to fight in the Contest at a weight not to exceed one hundred forty seven pounds (147 lbs) at the official weigh-in as established or conducted by a recognized USA boxing Commission on a scale approved by any such Commission or by the Fighters.
(c) Fighters hereby agree to fight in the Contest using gloves furnished by Promoter of which the weight, type, make, model and size of gloves have been pre-approved by Fighters. Fighters shall provide such approval without delay.
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(d) Fighters agree that the referee(s) and judges for the Contest shall be persons duly licensed to act in such a capacity by an official recognized USA Commission or other USA governing body having authority to grant such license. Fighters acknowledge and consent to all decisions rendered by the Referee(s) and/or Judges in the Contest.
(e) Fighters must provide all required information, including medical examination to Promoter and to the appropriate USA Commission, International Commission, UAE Commission or its equivalent (if required by such body) in a timely manner.
(f) General. Fighters hereby grant to Promoter, the right to serve as Promoter in connection with the Contest during the term of this Agreement wherein (i) Promoter serves as a promoter as provided in Section 2.2 below or (ii) another Person serves as promoter with Promoter’s prior consent.
Promoter’s rights under this Section 2.1 shall include the right to negotiate and contract with all Third Parties, including all matchmakers, promoters and other Persons related to the financing, organizing, promoting and carrying out the Contest. In exercising its rights under this Section 2.1, Promoter agrees that it will use its commercially reasonable best efforts to maximize the purse received by Fighters in connection with any Bouts hereunder.
(g) Compensation. In consideration for the rights, privileges and immunities granted to Promoter by Fighters herein, Promoter shall provide a guaranteed Bout purse of one-hundred fifty million dollars ($150M), twenty five million ($25M)
and one hundred twenty five million ($125M) to be split between the Fighters in a manner agreed by them as well as backend points, the entitlement and
dispersal of which shall take place in a manner and amount described in “Section 2.5 Fight Procedures.”
(h) Promoter, at Promoter’s discretion, will use one of the Big Four auditing firms (PricewaterhouseCoopers Deloitte Touche Tohmatsue, Ernst & Young and KPMG) or their equivalent, to audit fight revenue and expenses.
(i) Each of the Fighters agree that to guarantee his appearance, making the contract weight as agreed herein and for his due performance of this contract. If either Fighter shall fail to appear or make the agreed upon weight, or if either of the Fighters is not in suitable physical condition, resulting in his failure to pass required physical examination as provided by the laws of professional boxing and the Commission of the jurisdiction wherein Fighters are licensed, then Fighters entire purse may be forfeited to Promoter at Promoter’s discretion and any amount already paid to Fighters at the time shall be immediately returned to Promoter. Fighters agree that this forfeiture provision acts as a note between Fighters and Promoter giving Promoter both a security and ownership interest in any and all moneys due to Fighters from any and all of Fighters’ future fights and revenue up to the amount advanced to Fighters but that have not been returned.
(j) If the Fighters enters into another Boxing Match prior to the Contest herein contracted
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for and is defeated, or in any other way does anything calculated to lessen his present value as an attraction, the Promoter shall have the option to rescind and cancel this Agreement without further liability hereunder.
(k) If either of the Fighters has already entered an agreement for another Boxing Match to take place prior to the Contest herein, any and all funds advanced to the Fighters shall be placed in escrow until after the conclusion of the prior Boxing Match and released only upon a victorious conclusion on the part of either of the Fighters. If Promoter rescinds and/or cancels this Agreement because the prior Boxing Match concludes with a loss on the part of either of the Fighters, Promoter shall obtain the return of the amount escrowed.
(l) If either of the Fighters accept an advance of any monies related to the Contest hereunder, he is strictly prohibited from contracting for a fight with any opponent to take place prior to the Contest herein without written approval from Promoter. Fighters entering into such a prior fight contract must escrow with Promoter an amount equal to any and all advances that has been given to Fighters with the requirement that failure to be victorious in the prior fight will result in the forfeiture of the escrow to Promoter and cancellation of this Agreement.
Section 2.2 Promotional Rights.
(a) Fighters hereby grant to Promoter the exclusive and irrevocable control of all promotional rights pertaining to the Contest hereunder. Such exclusive promotional rights shall include, without limitation, all rights required to stage and sell tickets of admission to such Contest, as well as the right to fully commercialize market and exploit all ancillary rights thereto, including, without limitation, all exclusive worldwide rights to exhibit and distribute the Contest in any and all media, by any and all means, uses or media (whether now known or hereinafter devised) throughout the world.
This exclusive right to exhibit and distribute the Contest shall include, without limitation, the rights to broadcast, telecast, record and film the Contest for exhibition in any and all media, including, but not limited to, motion picture, radio, television (whether live or delayed, interactive, home or theater, pay, pay-per-view, satellite, closed circuit, cable or subscription), telephone, computer, internet (including podcasts), CD- ROM, DVD, video and audio cassette, photographs, including raw footage, outtakes, and negative in perpetuity. Such exclusive promotional rights shall also include all worldwide sponsorship and merchandising rights for the Contest under this Agreement. Promoter may market and exploit all of the rights granted in this Section 2.2 in any manner, in its sole discretion. It is understood and agreed that Promoter may serve as promoter of the Contest hereunder.
(b) Transportation and Lodging. For the Contest promoted by Promoter, Promoter shall provide, at no cost to Fighters, round-trip transportation and lodging from Fighters’ domicile or training camp to the site of the Contest.
(c) Rematch. Fighters hereby grant Promoter first right of refusal, in writing, on any rematch between Fighters following the Contest that is the subject of this Agreement.
The opportunity for first refusal should contain both the bona fide offer and, at least ninety (90) days for Promoter to meet said offer. In the absence of a bona fide offer, Fighter agrees that
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Promoter has the exclusive rights to promote the rematch between Fighters upon terms to be agreed upon at the appropriate time.
Section 2.3 Depiction Rights.
(*)
Fighters hereby irrevocably grant Promoter the unconditional and exclusive right, throughout the world, to use, simulate, and portray all aspects of Fighters image, whether live, recorded or photographed, in connection with the Contest hereunder, including without limitation, Fighters names (including alias, pseudonyms or ‘nicknames’), likeness, personal appearance, voice, personality, personal identification, personal and professional characteristics and experiences, professional boxing talent, skills, technique and biography (collectively, “Fighters’ Image”). This grant of rights includes the exclusive right to broadcast, telecast, photograph, film, record, advertise, promote, publicize, merchandise, distribute, exhibit or otherwise exploit Fighters Image whether live, recorded or photographed, in connection with the Contest hereunder in any and all languages, formats and media, whether now known or later devised, for any and all purposes, including for the promotion of Fighters and Promoter’s services, throughout the world, in perpetuity.
Promoter may market, exploit or license any and all such rights in any manner, in its discretion.
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discretion, causing Fighters to be obligated to share the risk of loss.
This means that while Promoter is still obligated to pay a Fight purse of one hundred fifty million dollars ($150M), that purse is no longer guaranteed and Fighters are subject to the same risk of loss as Promoter if the revenue generated from the Contest is insufficient to cover expenses