Pacquiao's financial adviser Michael Koncz told The Associated Press on Thursday that a 45,000-seat boxing arena being built in Las Vegas won't be finished before the end of May and staging the Pacquiao-Mayweather fight in a smaller venue is "foolish from an economic standpoint."
Mayweather challenged and taunted Pacquiao to a May 5 bout in a tweet on Tuesday.
The extra time is needed for construction of an arena, said Arum, claiming the fighters could generate an extra $40 million by fighting at a 40,000-plus-seat venue on the Las Vegas Strip rather than holding the bout at the 16,000-seat MGM. "You don't throw $40 million away," Arum said.
Arum said he's skeptical of Mayweather's Tuesday Twitter posts urging Pacquiao to "step up punk." Mayweather tweeted, "Manny Pacquiao I'm calling you out let's fight May 5th and give the world what they want to see." Arum said he has heard Mayweather is negotiating with Robert Guerrero for a May 5 fight.
After giving Pacquiao videos of possible opponents Miguel Cotto and Lamont Peterson, Arum expects Pacquiao to choose among those two, Timothy Bradley or Juan Manuel Marquez as an alternate opponent to Mayweather before the promoter leaves the country this weekend.
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