Pacquiao-Marquez fight nears fruition

Marquez, who has a draw and a split-decision loss against Pacquiao, reportedly would make a minimum of $5 million to fight Pacquiao on Nov. 12 at the MGM Grand Garden. Pacquiao (53-3-2, 38 knockouts) would make a minimum of $20 million, and the fight, for Pacquiao’s WBO welterweight title, would be fought at a catch weight of 144 pounds.

Top Rank chairman Bob Arum said the fight remains contingent upon Golden Boy Promotions officially signing off on the terms of the agreement. Golden Boy, which had been Marquez’s promoter of record, still has the right of last refusal on any of Marquez’s fights until the end of February 2012.

“Golden Boy was most cooperative,” Arum said. “They agreed not to block the fight. So we’re planning to move forward.

“When you look at the possible opponents for Pacquiao, the guy who can give him the best fight is Marquez. He’s the only one to have two close fights with Manny, and he may be the one guy who has Manny figured out.”

Richard Schaefer, Golden Boy’s chief executive officer, was traveling to Montreal on Tuesday. His assistant said he would have no comment on Marquez until next week.

Top Rank president Todd duBoef met with Marquez and his attorneys Tuesday at the Beverly Hills Hotel to finalize the deal. Arum said the next step will be to sign a contract with the MGM and find a TV broadcast partner.

Showtime televised Pacquiao’s May 7 rout of Shane Mosley. Because of the additional promotional platform provided by CBS, the fight generated 1.3 million to 1.4 million pay-per-view buys, the most for any Pacquiao bout. But Arum said HBO, which had televised Pacquiao’s fights through most of his run to world titles in eight weight classes, would be approached to make an offer.

HBO, owned by Time-Warner, has ties to TNT and TBS and could use those channels to promote Pacquiao-Marquez III.

“Whichever network gives us the best deal and the most exposure, that’s who we’ll sign with,” Arum said. ”We’re looking to take this sport to a new dimension.”

Marquez (52-5-1, 38 KOs) last fought Nov. 27 when he stopped Michael Katsidis in the ninth round of their WBO lightweight title fight at the MGM.

Marquez is scheduled to fight former world lightweight champion David Diaz on July 2 in Mexico City, a bout he’ll have to win to keep his date with Pacquiao.

If they meet, Marquez will be fighting at the second-heaviest weight of his career; he weighed 146 when he lost to Floyd Mayweather Jr. in 2009.

Marquez and Pacquiao fought at 126 pounds in 2004 at the MGM. Marquez was knocked down three times in the first round, but rallied in the second half of the fight to gain a 12-round draw.

Pacquiao won a 12-round split decision in the rematch, fought at 130 pounds in 2008 at Mandalay Bay.

Contact reporter Steve Carp at scarp@reviewjournal.com or 702-387-2913. Follow him on Twitter: @stevecarprj.