Wow, how feelings change after the FOTC comes out a flop.
The MGM Grand Resort in Las Vegas was already pumping up a Mayweather-Pacquiao rematch with advertisers and investors, sources said. But now that appears to be on hold.
The proposed rematch of the welterweights was going to be timed to the opening of the MGM Grand’s new $375 million, 20,000-seat arena in May 2016. The first big event at the venue will be a concert by an unspecified artist, and the Mayweather-Pacquiao matchup would have come next.
But now Vegas insiders say that the hotel giant’s backing away from the idea because the fight — while pulling in unprecedented millions — underwhelmed fans and was a logistical nightmare.
Mayweather, who earned $180 million in winnings, has said he will hang up his gloves after one more fight in September.
“MGM had delusions of grandeur,” said a Vegas insider of the hotel’s pushing a rematch before the fight fizzled. “Now they’re backing off, unless the purse would be $300 or $400 million.”
A rep for MGM told us execs were “delighted” with the weekend’s success, but denied having talked up any rematch. “We aren’t involved in those discussions and haven’t spoken with investors.”