Algieri's purse "exceeds $1.5 million" and includes an upside of PPV sales, according to Joe DeGuardia, who promoted Algieri locally at the Paramount Theatre in Huntington. Algieri also retains his 140-pound title no matter the outcome.
"The deal is done," DeGuardia said Tuesday night. "We spent the day together and hammered it out. Chris is extremely happy with the overall package and pleased with the total compensation and the way the deal is structured."
As Sports Illustrated's Chris Mannix pointed out, this fight won't exactly be a moneymaker for Pacquiao in terms of pay-per-view buys; however, that money will be made back in Macau, China, where the bout will be held:
Over under pay per view buys for Pacquiao-Algieri should be right around 300K. Tough sell. Macau money should make up for it though.— Chris Mannix (@ChrisMannixSI) July 16, 2014
Algieri's stock has soared since he picked up a split-decision victory over Ruslan Provodnikov on June 14. That win has forced the boxing world to take notice of the 30-year-old. He boasts a career record of 20-0 with eight wins coming by way of knockout.
There’s no question that this matchup will be underwhelming for some fans. Even after the Provodnikov win, Algieri has little name recognition. You’d have thought that Pacquiao would’ve aimed for a little higher up the food chain for his next fight.
Michael Sempervive of the Wrestling Observer was less than complimentary of the decision:
Remember when Manny Pacquaio was one of the Time Magazine's Men of the Year? He's now a Macau Venetian lounge act fighting Chris Algieri.— Michael Sempervive (@Sempervive) July 16, 2014
Kelsey McCarson of The Sweet Science and Bleacher Report also felt that Pac-Man should’ve chosen a more intriguing opponent:
My initial reaction is that Pac-Algieri is complete and utter crap.— Kelsey McCarson (@KelseyMcCarson) July 16, 2014
Even Mayweather fighting Maidana again is better than Pac-Algieri.— Kelsey McCarson (@KelseyMcCarson) July 16, 2014
Pacquiao will be looking for his third straight win after stumbling against Timothy Bradley and Juan Manuel Marquez. Following a strong performance against Brandon Rios, Pac-Man avenged his split-decision loss to Bradley in their rematch, outclassing Desert Storm in a definitive win.
Boxing fans are often complaining about the fact that the sport hasn't elevated a lot of fresh talent, but it would seem Algieri has a great chance to shock the world and make himself a household name come November.