“It’s The Big One”
Do you remember the 70s sitcom “Sanford & Son” starring Redd Foxx? Whenever anything bad happened, he would clutch his chest, look up to the sky and say: “It’s the big one, Elizabeth!”
Well, hold onto your chest and call the paramedics, Redd, because the upcoming Mayweather-Pacquiao welterweight title fight at the MGM Grand Garden on May 2nd truly is “The Big One.”
The numbers don’t lie.
Originally, the live gate for this fight was projected at a whopping $40 million, which is double the gate of Mayweather’s record of $20 million for his junior welterweight bout in 2013. But wait, there’s more. Lots more. If that wasn’t impressive enough, Top Rank promoter Bob Arum recently announced that, thanks to revised ticket sale prices and reconfiguring the Garden to accommodate more fight fans, the projected total gate is now pegged at an incredible $74 million, with ringside tickets going for an astonishing $10,000. That’s more than three times the previous gate record. The cheap seats? They’ll set you back a cool $1,500.
It gets better.
In a bold and unique first-ever move, HBO and Showtime have joined forces to broadcast the fight on pay-per-view. Once again, the numbers are staggering. With an anticipated 3 million or more PPV buys, which is more than the 2.4 million generated by the Mayweather/Oscar De La Hoya bout, the potential pay-per-view revenue is forecast to top $300 million. Throw in $35 million in foreign TV rights plus Corona’s $5.6 million record title sponsorship fees and it all adds up to a mind-boggling $400 million. Closed-circuit receipts are expected to generate an additional $120 million. Cha-ching!
The fight could actually top $500 million in total revenue. That’s half a billion dollars for one fight, making this far and away the most financially lucrative title match in history; if not in all of sports. Mayweather’s camp will get 60% of the revenue, while Pacuiao’s posse will pocket 40%.
Of course, the financial impact for Las Vegas is equally huge. The MGM has jacked up room rates for the fight to $1,600 per night with 98% of its 6,800 rooms already booked. That means that the MGM Grand alone will generate roughly $20 million in revenue, not counting F&B, for this one event, which is a 35% revenue uptick.
That’s just one hotel folks.
Show us the money
According to the Las Vegas Convention & Visitors Authority (LVCVA), the town is filling up fast for the fight and expected to be close to a sell-out up and down the Strip. Some analysts predict that city will derive upwards of $100 million in total revenue from this one event, and it could be a lot more. As one Vegas marketing exec put it: “A fight weekend is like New Year’s Eve for us. And New Year’s Eve is the biggest night in the whole city.”
Promotor Bob Arum lauded the Entertainment Capital of the World by saying: “The truth is, no other place in the world can host an event like Las Vegas can. It has hotels, the casinos, the restaurants and the nightclubs to host a big event.” Of course, we here at Destination Fabulous couldn’t agree more with his assessment.
And if that wasn’t enough, the fight is on the heels of Cinco de Mayo Weekend, which usually brings a flood of guests from our neighbor to the south into our fair city for all the Mexican-inspired festivities. We can only imagine this will add even more “spice” to this already much-hyped pugilistic contest.
For those living in Mexico and points south who can’t make it to Vegas, they’ll be able to watch the fight, thanks to competing Hispanic networks Azteca and Televisa throwing in the towel and joining forces to co-simulcast the match together after ponying up $2.3 million.
Cinco de Mayo celebrates the Battle of Puebla which took place on May 5, 1862. Against overwhelming odds, the Mexican army defeated a superior French force. Corona suffered a similar
fate, having been outgunned by archrival Tecate; which won the official beer sponsorship for $5.6 million, outflanking Corona’s $5.2 million offer.
There you have it: The “Tale of the Tape.” The blockbuster Mayweather/Pacquiao slug fest promises to be one whale of a fight. And a massive whale at that. Simply put, it’s the biggest boxing event in history and, most likely, one of the biggest sporting events of all time. It’s happening right here in Fabulous Las Vegas, home to Destination Fabulous DMC, your premier Las Vegas event-management company. And we couldn’t be prouder of our hometown.
We go the distance for you
When it comes to orchestrating the most effective and successful Las Vegas special events – from conventions and trade shows and top-flight entertainment to dazzling customized couture events, no other Las Vegas DMC goes the distance for our clients like we do. Round for round we knock out the competition with our eight exclusive trademarked services covering all aspects of your Las Vegas event-planning needs, from site selection and budgeting, to event management, entertainment, and transportation. And because we operate with the highest integrity in the DMC industry, you’ll never have to worry about us hitting “below the belt.”
So if you’re planning to be in town for the fight and don’t have a room booked at the MGM, may we suggest that you take advantage of our exclusive TransportPlus™ transportation services. We can arrange to get you and your VIP party to this ultimate boxing match in style and luxury.
I’ll see you at the Garden, where I’ll be enjoying some officially sponsored Tecate, having temporarily switched allegiance from my favored Corona in honor of the fight.
Here’s looking at you, Redd. It’s the Big One, all right. So “LET’S GET READY TO RUMMMMBLE!!!”