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Tecate KO’s Corona for Mayweather-Pacquiao rights

Tecate has pipped rival Mexican beer brand Corona to secure title sponsorship rights for the highly anticipated world welterweight title unification bout between boxing superstars Floyd Mayweather Jr. and Manny Pacquiao.

Mayweather and Pacquiao’s long-awaited ring meeting will take place at Las Vegas’ MGM Grand Garden Arena on May 2.

Tecate is a long-time sponsor of Pacquiao fights, while Corona is the regular backer of Mayweather bouts. Pacquiao’s promoter Bob Arum told ESPN.com that Tecate bested Corona for one of the title sponsorship spots with a bid of $5.6m (€5.3m), topping the $5.2m put on the table by its counterpart.

Mayweather versus Pacquiao will establish itself as the richest bout in boxing history. According to the Associated Press news agency, WBC and WBA champion Mayweather will take home a projected purse of $180m, with WBO ruler Pacquiao poised to gross in excess of $100m.

Arum expects gate receipts at the MGM Grand to come to more than $72m, comfortably outstripping the previous record of $20m for Mayweather’s 2013 points win over Mexico’s Saul ‘Canelo’ Alvarez.