Middleweight champion Marvelous Marvin Hagler is guaranteed $12 million for his fight with Sugar Ray Leonard, who will make at least $11 million in the bout at Las Vegas next April.
The guarantees are the largest in boxing history.
"The original deal, which Leonard did not accept, would have paid him $8 million plus 30% of the revenue in excess of $25 million," promoter Bob Arum said Monday. "He opted instead to be bought out of the percentage for $3 million. If the fight does over $30 million, he lost money. If it does under $30 million, he made money. It was a businessman's decision.
"Marvin gets 50-75% of revenue over $25 million."
Arum said the fight, set for April 6 at Caesars Palace, could have a potential closed circuit and pay-per-view audience of 3 million and might gross as much as $100 million. That would double the previous record gross set by Larry Holmes and Gerry Cooney at Caesars in 1982.