Arguello, known as “El Flaco Explosivo” (“The Explosive Thin Man”), was a tall, lanky featherweight with exceptional timing and knockout power. Entering with a 35-4 record, he had fallen short in an earlier title challenge against Ernesto Marcel in February 1974 but had rebuilt his standing, winning four consecutive fights to earn another opportunity. Although respected for his ability, the 22-year-old challenger was viewed by many as too inexperienced to defeat the battle-tested Mexican star, Olivares. Arguello earned just $15,000 for the fight.
Arguello tried to establish his long left jab and keep Olivares at the end of his punches, but the champion steadily closed the distance. Once Olivares got inside, he ripped hooks to the body and head, forcing Arguello to fight at close quarters instead of the measured pace he preferred.
By the middle rounds, Olivares had seized the initiative. He repeatedly backed Arguello to the ropes, digging hard hooks into the body before bringing his attack upstairs. The Mexican champion was winning the exchanges and had Arguello fighting a defensive battle, with several ringside observers believing the challenger was headed for defeat if the pattern continued.
The eighth through tenth rounds were especially difficult for Arguello. Olivares battered him with combinations and seemed close to forcing a stoppage, but the challenger refused to wilt. Even while losing rounds, Arguello remained composed, slipping in sharp counters that hinted his power remained a threat if Olivares made a mistake.
Olivares hurt Arguello with a booming right hand in the 12th round and followed with a sustained attack, pinning the challenger against the ropes while looking for the knockout. Arguello covered up, answered with occasional counters, and made it to the bell. Although Olivares had dominated much of the action, the furious assault required a great deal of energy.
As both fighters exchanged left hands early in the 13th round, Arguello landed a short, perfectly timed left uppercut that crashed into Olivares’ chin, sending the champion sprawling to the canvas. Olivares beat the lengthy count after officials replaced his mouthpiece and immediately charged forward, determined to continue trading punches.
Arguello met the advancing champion with another perfectly timed combination that dropped Olivares a second time. Although the proud Mexican rose once more, he was in no condition to continue, prompting referee Dick Young to halt the contest and award Arguello a 13th-round knockout victory.
The win transformed Arguello’s career. In becoming Nicaragua’s first world boxing champion, he launched one of the sport’s greatest championship runs, defending the featherweight title before capturing world championships at super featherweight and lightweight. He would later challenge for an unprecedented fourth world title against Aaron Pryor, cementing his place among boxing’s immortals.
Olivares accepted defeat with characteristic grace, remarking afterward that he had been “caught cold” despite believing he was ahead. The loss did little to diminish his standing. In 1975, he knocked out Bobby Chacon in two rounds to capture the WBC featherweight title, while Arguello’s victory at The Forum marked the first world championship of a career that eventually produced titles in three weight classes.
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