As expected, the mega-fight between Floyd Mayweather and Manny Pacquiao is shaping up to break every revenue record in combat sports history, and is expected to easily surpass $400 million.
According to ESPN, the live gate at the MGM Grand Garden Arena in Las Vegas will generate a staggering $74 million from the sale of a little more than 15,000 tickets — three-and-a-half times the gate record of $20,003,150 generated by ticket sales for Mayweather’s 2013 fight against Canelo Alvarez, also held at the MGM Grand Garden Arena.
Upon announcing the fight in late February, Top Rank and Mayweather Promotions were looking to double the gate record to $40 million, with tickets ranging from $1,000 to $5,000. However, due to huge demand, prices were raised to $1,500 to $7,500, helping it max out at more than $50 million. Now, after shuffling the number of tickets in each price category and increasing the face value of the top ticket to $10,000, they have scaled the arena for about $74 million, Top Rank chairmain Bob Arum said.
It’s unfair, but the majority of tickets will not be for public sale. The fighter camps, promoters, Showtime, HBO and the MGM Grand each control a share of tickets, which they will sell to their people and customers.
“We’ll probably have a handful of tickets that will go on sale to the public next week,” Arum said. “It’s mania.”
Furthermore, the fight is a lock to shatter the pay-per-view record of 2.4 million buys, held by Mayweather’s 2007 fight with Oscar De La Hoya. The Mayweather-Pacquiao fight is expected to surpass 3 million pay-per-view buys, and with a pricetag of around $100 USD, it could potentially bring in $300 million in domestic pay-per-view buys.
The foreign rights are expected to bring in another $35 million, another record; and television rights in Pacquiao’s home country of the Philippines have been sold to Solar for $10 million, a record for a Pacquiao fight.
In Mexico, major broadcast networks Azteca and Televisa are bitter rivals, but made a deal to both buy the rights to Mayweather-Pacquiao for a total of $2.3 million and will televise the fight simultaneously, Arum said.
Beer companies, Tecate and Corona, have been battling it out to be one of the title sponsors. Arum tells ESPN that Tecate won with a record bid of $5.6 million.