Just like what you mentioned about Pacquiao and how things went between him and Arum.
Money talks, as always, with sports that have a huge amount of money that flows each time well-known fighters are at stake.
Not siding with Arum but somehow, we can't hide the fact that his big influence also plays a role in why most of his top fighters are able to earn big money throughout their career. What if Pacquiao didn't land on a big promoter, I doubt he will have some big fights while at the peak of his career. Bob Arum, being a professional businessman in this industry knows how to make big revenue in a certain match. Of course, without a big money flowing on a certain match, how can they even pay their boxers with that guaranteed money (that was different from purse split)?
Boxing is really business at some point, but somehow a boxer can build a legacy while also doing business at the same time.
Bob Arum's just doing what he have to do in-order to make business and pave a way for his boxers to bloom and then maintain their status when they are at the top, in fact, there's a lot of young boxers who would want to be under Bob Arum's umbrella because they knew the exposure that Arum can give to them once they land under him. Just like what he did to Pacquiao, he was one of the reasons why he achieved that status. He knew that Pacquiao will be great, he just pave a way for him because he knows exactly what to do.
Yep, he put Manny's name on the map with his careful match making and of course him being in the sports for so long, he can pull that off and then make Manny look great, and both of them making money at the same time. We all call it, milking the cow, millions earn by both of them throughout their partnership.
And then they move on, Manny didn't sign any contract, put up his own company and had a few good fights.
While Arum find another cash cow in Inoue and others. So that is the vicious cycle of boxing being a business with this promoters.
At the end of the day, Arum still getting huge money out from his fighters. Just like you said, Manny in the later part of his career decided to part-ways with Arum and start his own promotion, that action didn't harm Arum in anyhow, though for a while maybe he loss millions of percentage with those fights that Pacquiao have before his retirement but being a good handler with an established name in this business, Arum simply creates another hotshot to be his milking cow.
And the cycle continues for Arum and his business. This sport is more about how to make money. That's why each fighter really aiming to give everything so promoters will notice them and give them the chance to change their life.