Schaefer says Arum doesn't want Mayweather-Pacquiao - Next

Schaefer also took exception to in interview with Pacquiao during a Thursday press conference in Manila.

"Mayweather wants a guaranteed purse, so what he has to do is get a promoter who can give him the guarantee," said Pacquiao. "I don't have problems getting a guarantee because I have a promoter who will give me my guaranteed purse. If he gets a guarantee, then we are going to share the revenue on a 50-50 basis."

Said Schaefer: "He's saying that Pacquiao's money is guaranteed because he guarantees it? What the hell is he talking about?"

"That's just the latest bulls--t from Arum. What an idiot. Floyd made at least twice as much as Pacquiao did in his last fight," said Schaefer. "Arum is guaranteeing Pacquiao? Pacquiao should realize that he's being guaranteed with his own money."

Pacquiao also made a reference to Mayweather needing investors.

"They need the investors? The fact is that between Floyd and the Money Team and Golden Boy, we have more money than these investors combined. We don't need outside investors," said Schaefer.

"Maybe Top Rank needs outside investors. They're not as well capitalized as we are. We don't need outside investors. What the hell does he need investors for? So you can have investors guaranteeing the fight with their own money?"

Below is the full statement from Schaefer's interview:

"He's saying that Pacquiao's money is guaranteed because he guarantees it? What the hell is he talking about? That's just the latest bulls--t from Arum. What an idiot. Floyd made at least twice as much as Pacquiao did in his last fight. Arum is guaranteeing Pacquiao? Pacquiao should realize that he's being guaranteed with his own money.

"Bob would be well advised not to get me going on this subject. Bob and Todd don't know who to talk to? What planet are they living on? It's one excuse after the others. They need the investors? The fact is that between Floyd and the Money Team and Golden Boy, we have more money than these investors combined.

"We don't need outside investors. Maybe Top Rank needs outside investors. They're not as well capitalized as we are. We don't need outside investors. What the hell does he need investors for? So you can have investors guaranteeing the fight with their own money?

"I don't understand what this guy's talking about. He might be an okay boxing promoter, but I tell you one thing, when it comes to finance and money, I'll take him before breakfast. That's my domain. We never had any problems with Floyd making record purses and record monies.

"Like I said, in Floyd's last five fights, he's made at least double as much as Pacquiao has made in his last five fights. It's just one bulls--t story after the other. That's why I'm getting all of these media calls. People should just realize that this guy doesn't want to do the fight. You never know what he's going to say.

"With all of this other bulls--t that he's coming up with, it's just one excuse after the other. It's investors and then it's an outdoor stadium and then it's the cut and then it's that Mayweather has nobody is going to guarantee him the money, and what the hell is he talking about? This is idiotic.

"I don't know what it is. Todd saying that it's frustrating that he doesn't know who to contact? He knows who to call. Again, what planet are these people living on? Give me a call. He knows where to find me. Give me a call."

Photo by Tom Hogan, Hogan Photos/Golden Boy Promotions

Photo by Chris Farina, Top Rank Inc.

Lem Satterfield can be reached at lemuel.satterfield@gmail.com