The fight is on, but the fight over the contract continues. Mr. P announced that Mr. M would not agree to a $5 million penalty if either of them had a dirty drug test after the fight. You flat out cannot do that in a negotiation. Once terms are agreed to, adding terms is a non-starter absent extraordinary circumstances. What might that be? If you add value from your side, MAYBE the other side will agree to modify a contract. So here, for example, would it have been worth some extra money to have obtained the drug test promise? Or the promise of an added return fight? Perhaps joint appearances in Vegas?
The lesson is that if you want something, ask for it, but the ask had better be before the contract is inked. By the same token, if you hold back on the "ask" until the end of a negotiation, be prepared to walk away from the deal.
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