Agreement between Pacquiao, Bob Arum and Golden Boy Promotions

Oscar De La Hoya and Richard Schaefer operate the company Golden Boy Promotions. These persons suspected the boxer Manny Pacquiao in steroid use. Since this suspicion could hurt Pacquiao’s reputation, he filed a defamation lawsuit against Oscar De La Hoya, Richard Schaefer, the boxer Floyd Mayweather Jr. and his father.
But later Manny Pacquiao and Bob Arum, the Cief Executive Officer of Top Rank, achieved an agreement with Golden Boy Promotions. Thus, Manny Pacquiao dropped lawsuit against Oscar De La Hoya and Richard Schaefer. But the defamation lawsuit against the fighter Floyd Mayweather and his father remained in power.
Richard Schaefer and Oskar De LA Hoya poined out that they denied their prior settlements about accusation in intake of steroids by Manny Pacquiao. They announced that there was no any evidence to accuse this boxer in application of prohibited products. They recognized that Manny Pacquiao was one of the best fighters of all times. At the end of agreement, the president of Golden Boy Promotions and Bob Arum, the founder of Top Rank, shook their hands.
It is considered that this apology will promote competing between Top Rank fighters and Golden Boy fighters.
Since the suspicion was related to Manny Pacquiao, the apology was related to him too. He accepted it and dropped the defamation that was linked with the CEO and the president of Golden Boy Promotions.
At the beginning the debate about possible intake of performance-enhancing preparations delayed the competition between Pacquiao and Mayweather. It happened because Mayweather insisted on tests for banned preparations by the WADA.
Later Mayweather refuted to fight with Manny Pacquiao again, referring to steroid accusation. It led to high impatience in fans because they were waiting for the fight.