MONTREAL – WBC world light-heavyweight champion Jean Pascal has many reasons to smile these days after signing a new, multi-million dollar contract with promoter Groupe Yvon Michel.
Not only is Pascal guaranteed $1,050,000 to defend his title against American Chad Dawson, a win in that fight would also guarantee him a $1.5 million payday in his next bout.
As the Haiti-born boxer's contract was set to expire on May 1, Pascal's new contract with GYM was finalized prior to the June 17 press conference announcing the Pascal-Dawson fight. The contract is the most lucrative ever given out to a boxer in Quebec.
Though three American promoters had their eyes on Pascal, who now calls Laval home, the fighter wanted to remain in Quebec. Also, he has been fighting under the GYM auspices since he kicked off his pro career in 2005.
After some frank discussions with his representatives, Pascal decided not to move on despite receiving richer offers. One American was even willing to match any offer made to Pascal.
The deal, which is based on the number of fights Pascal takes part in, can be extended if both sides agree to do so.
The 27-year-old Pascal (25-1 with 16 KOs) will fight in his first bout under the new contract Aug. 14 at the Bell Centre in Montreal when he defends his title against Dawson (29-0, 17 KOs).
Pascal will also become the first Canadian boxer to receive more than $1 million for a fight in the country.
"I am a bit uncomfortable talking about that, but it's the reward based on the risk," Pascal said. "Dawson is ranked sixth in the world, all categories included. The HBO venue also explains the (prize) amount."
The fight will mark Pascal's first appearance on HBO. It will also be the first time HBO's World Championship Boxing series will be broadcast live from Quebec.