Although it would be the biggest payday in Manny Pacquiao’s career, Pacman revealed that he turned down a guaranteed $40 million purse, proposed by Floyd Mayweather during their two-minute phone conversation a week-and-a-half ago according to Tempo.com.

Some may think that Pacquiao has to be crazy to turn down such a large sum of money, but the reality is a 50/50 split including pay-per-view royalties would fetch him at least $10-$20 million more for the long-awaited megafight.

Pacquiao said this of the situation:

He said he will guarantee me $40 million but I won’t have any share on the pay-per-view and other sources of revenue.