Sugar Ray Leonard and trainer Dave Jacobs reconciled their financial differences and incipient separation yesterday, Jacobs said last night.
"We met, we settled our disagreements and his next fight I will be there in his corner as usual," Jacobs said when contacted at Oakcrest Community Center, where he is boxing instructor.
Jacobs in recent weeks had been on the verge of splitting his ties with the WBC welterweight champion and his other handlers over division of purse money now that Leonard, who he began training as a 14-year-old novice at Oakcrest, has risen to the title and millions of dollars in earning power.
The trainer had insisted on a percentage of the champion's purses, citing a ring rule of thumb that trainers draw 10 percent. Leonard's financial manager, attorney Michael Trainer, had offered a flat fee of $25,000 per fight.
Jacobs was known to have been piqued that while he put in continuous effort as Leonard's tutor, hearlded adviser Angelo Dundee would come in on fight days, or shortly before, and receive a substantial percentage.
"I will not discuss what money, or percentages, or any aspect of our settlement," Jacobs said last night. "The agreement was just between me and Ray Leonard. They (attorneys for both sides) will leave it the way we agreed on it."