Golden Boy CEO: Floyd Mayweather's penalty for missing catch-weight 'substantial'

LAS VEGAS -- Richard Schaefer, CEO of Golden Boy Promotions, said there was a "substantial" financial penalty built into the Floyd Mayweather-Juan Manuel Marquez contract in the event either fighter failed to make a 144-pound agreed-upon limit.

"As it was disclosed before, during the promotion, the fight was contracted at welterweight, was promoted as a welterweight fight, which we all know is a 147-pound limit," Schaefer said. "However, the agreed-upon weight was 144 pounds and there were contractual weight penalties built in, in case either fighter comes in heavy."

Schaefer said the penalty was a set amount per pound, or fraction of pound, that a fighter weighed heavier than 144.

Mayweather will pay two pounds of the contractual penalty funds directly to Marquez for weighing in at 146 pounds Friday. Marquez weighed 142.

Schaefer declined to disclose the amount of the penalty as called for in the contract.

"It was a significant amount," he said.

Source: http://blog.mlive.com/mayosclinic/2009/09/golden_boy_ceo_richard_schaefe.html