THE lack—or absence—of world title fights in the country is hurting the country’s professional boxing community, according to former World Boxing Council (WBC) bantamweight champion and now promoter Gerry Peñalosa.
“That’s one of the reasons why Philippines—one of the most respected countries in pro boxing—has only one world boxing champion left,” said Peñalosa, referring to WBC featherweight titlist Mark “Magnifico” Magsayo.
“It’s got something to do with the lack of world title fights or title defenses here in the country,” Peñalosa told BusinessMirror over the weekend. “If we can only do fights here, there’s a big advantage on our part to keep our champions.”
“I’m not saying that it’s precisely the main reason but it’s a big boost for any world champion to fight in his hometown,” he said. “It gives them a slight or wide advantage unless they will be knocked out by the challenger.”
Peñalosa said he was saddened that Rene Mark Cuarto lost his International Boxing Federation (IBF) minimumweight title to hometown bet Daniel Valladares via split decision last Saturday in Monterrey, Mexico.
It’s the same case, Peñalosa stressed, with Vic Saludar who lost his World Boxing Association (WBA) and World Boxing Organization (WBO) minimumweight belts in enemy territory.
Saludar first lost the WBO title in August 2019 via unanimous decision to Wilfredo Mendez in Puerto Rico and then lost the WBA belt last December to Erick Rosa via split decision in the Dominican Republic.
“I’m hoping we can bid for world title fights soon just like what we did before, but it’s the financial situation because of the lack of sponsors, that’s why our promoters can’t hold a fights here,” he said. “The pandemic is also our problem.”
Peñalosa said that a world title fight for lower weight classes—minimumweight to super flyweight—will cost a promoter around P14 million, while the bigger weight categories from bantamweight to welterweight needs P25 million to stage.
“The cost includes the fight purse of both fighters, billeting and venue. The question is who will provide?,” Peñalosa said. “It’s definitely big money.”
The last time a world title fight was staged in the country was the all-Filipino Cuarto-Pedro Taduran duel for the IBF belt twice in General Santos City last February 2021 and their rematch in Digos, Davao del Sur, last February.
Before that, Puerto Rican McJoe Arroyo lost his IBF super flyweight title via unanimous decision to Jerwin Ancajas in Taguig City in 2016.
During the pandemic, eight-division world champion Manny Pacquiao lost the WBA welterweight title to Yordenis Ugas in August 21 last year in Las Vegas before Johnriel Casimero was stripped off his WBO bantamweight belt in Liverpool last April.
Only last June 7, former WBC bantamweight king Nonito Donaire Jr. suffered a fourth round technical knockout loss to undefeated unified champion Naoya Inoue of Japan to relinquish his title in Saitama, Japan.
Peñalosa said he hoopes Magsayo retins his title against Rey Vargas of Mexico at the Alamodome in San Antonio, Texas, on July 9, and that Donnie Nietes beats WBO super flyweight champion Kazuto Ioka on July 13 in Tokyo.