Oscar De La Hoya has nearly wrapped up a deal to finish his career on December 6 against Filipino Manny Pacquiao, two people with knowledge of the negotiations revealed on Wednesday.
The people, who spoke on condition of anonymity, said De La Hoya's long-stalled talks with Pacquiao recently revived when the sides found an acceptable way to split the possible US$100 million in revenue from what's certain to be boxing's most lucrative fight since De La Hoya's split-decision loss to Floyd Mayweather Jr. last year.
Barring any last-minute changes of heart in a sometimes contentious negotiation, the fight will bring the two together at the MGM Grand in Las Vegas.
It hasn't been an easy match to make. Both boxers must make physical sacrifices for the 66.5-kilogram bout, with De La Hoya dropping down to welterweight for the first time in nearly eight years while Pacquiao bulks up to the heaviest weight of his career by far.
The fighters' camps also argued over the split of the purse, with De La Hoya angling for 70 percent while Pacquiao pursued a 40 percent cut. The resolution to this impasse wasn't clear.
De La Hoya, the six-division champion and Olympic gold medalist, repeatedly has said he won't fight again after this year. After a proposed rematch with Mayweather in September was scuttled by Mayweather's retirement, De La Hoya has struggled to find a suitable opponent for his final bout before turning his full attention to his burgeoning promotions company and other business interests.
De La Hoya now thinks he has his man in Pacquiao, the five-division champion widely considered the world's best kilo-for-kilo fighter. Pacquiao hasn't fought since stopping David Diaz in late June to claim the WBC lightweight title in his first fight at that weight.
Pacquiao will have to move up to welterweight to fight De La Hoya, a surprising weight surge for a fighter who began his career as a minimum weight boxer.
De La Hoya beat Steve Forbes by unanimous decision in his most recent fight, but has won just three of his six bouts over the past five years. He considered Miguel Cotto and Sergio Mora for his farewell fight, but realized the most lucrative challenge would be Pacquiao, the relentless Filipino hero who has won eight straight fights since early 2005.
(Agencies via Shanghai Daily August 29, 2008)