Although it would be the biggest payday in Manny Pacquiao's career, Pacman revealed that he turned down a guaranteed $40 million purse, proposed by Floyd Mayweather during their two-minute phone conversation a week-and-a-half ago according to Tempo.com.
Some may think that Pacquiao has to be crazy to turn down such a large sum of money, but the reality is a 50/50 split including pay-per-view royalties would fetch him at least $10-$20 million more for the long-awaited megafight.
Pacquiao said this of the situation:
He said he will guarantee me $40 million but I won’t have any share on the pay-per-view and other sources of revenue.
How can he leave me out of the pay-per-view when I generate more than him in pay-per-view sales?
Pacquiao said that the $40 million proposal from Mayweather was less than the guaranteed money Top Rank president and Pacquiao promoter Bob Arum promised him.
Even if Money May won't agree to an even 50/50 split, there is no way Pacquiao should budge on getting a share of the pay-per-view revenue, as the fight would be projected to break all PPV sales records.
Pacquiao feels that asking for PPV revenues is not far-fetched:
I am still praying that Mayweather gets enlightened because I believe that I am not being unreasonable.
With time running out, and with Pacquiao's plan B rematch bout with Miguel Cotto being a no-go as Cotto rejected the fight, there is still a glimmer—albeit a very small glimmer—of hope that the megafight could take place sometime in May.