When Floyd Mayweather and Manny Pacquiao meet at the MGM Grand in Las Vegas for their long-awaited fight on May 2, it is expected to be the highest-grossing boxing match in history. Revenue from the fight is tipped to reach a record $400 million. Here are seven reasons why:
1. Boxing is a money-making sport
Boxing's first million-dollar fight took place way back in July 1921. It was between American Jack Dempsey and Frenchman Georges Carpentier in Jersey City and the stands built for 91,000 were packed to capacity.
Since then, boxing matches have continued to generate huge sums of money, especially since 1990; ten fights have generated more than $60 million. Tickets for the fight start at $1,500 — and 1,000 of the best seats have been sold for $10,000. Most of the money will come from pay-per-view TV sales; viewers are paying $99.99 to watch it at home in high definition. Read more...
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