...Wait, when did anyone say it was going to be for $200? That part is news to me.
Anyway, when I asked PL about it that night, he just told me he wants nothing to do with the NY scene because they constantly shit talk him. He said it was a lose-lose situation, because it'll be drama whether he beats REO or not. Nevermind that: PL told them that he'll donate, he just doesn't want to play anyone for the above reasons.
tl;dr version: PL is fine with supporting charity, but he wouldn't support the NY scene for any sum of money in the world. With the way I've heard some of those guys talk about him, I can't even blame him for that.