Manny Pacquiao vs. Floyd Mayweather fight wouldn’t happen in New York or New Jersey. Why? Because of the taxes!

Neither Oscar de la Hoya, Ricky Hatton or Miguel Cotto could knock out Manny Pacquiao vs. Floyd Mayweather (for thos who follow boxing). One thing can though. The ludicous taxes in New York and New Jersey to pay for all the government entitlement programs in those states. After this past Satuday’s Pacman Pacquiao fight, there was talk about a boxing matching between Pacquiao and Mayweather. Rumors starting circuling that the fight would be at the new Yankee Stadium this coming spring. Others such as co-owner of the New York Giants (who play in New Jersey) Steve Tisch, co-owner of the Giants wanted the fight in Giants Stadium. The New York Mets owner also wanted to land the fight for the newly opened Citi Field. But too bad for New Yorkers and New Jersey”ers” Bob Arum slammed the door on the idea according to Newsday:

“No chance,” Arum said. “Nothing would please me more than to have it at Yankee Stadium, but the way the tax structure in New York is set up, it’s impossible.”

But that’s not the worst news. The front-runner to host the bout, proposed for early May or June 2010, is – gulp! – Cowboys Stadium, Jerry Jones’ $1 billion-plus, retractable-roof football palace that makes Yankee Stadium look like a sandlot.

“As a lifelong Giants fan, how can you do this?” Tisch said to Arum, a longtime friend to Bob Tisch, Steve’s late father, when he found out the fight was likely to wind up in the home of one of his team’s most-hated rivals.
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The answer is, no state taxes in Texas and a ton of them in New York and New Jersey. According to Arum, the fighters could lose more than $12 million in taxes if the fight takes place in New York and slightly less if it winds up in the Meadowlands.

Arum said that between New York State and city taxes and a tax levied on nonresident independent contractors performing in New York, the fighters – and the promoter – would lose 15 percent of all revenue generated by the bout.

“It’s just not economically feasible to do events like that in New York,” Arum said. “It’s ridiculous, really.”


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November 17, 2009 · Filed Under General Politics

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