PACQUIAO Fires VisionQwest (Philippines News Report)

[Gino Ros]

http://www.abs-cbnnews.com/sports/08...onqwest-report

Pacquiao fires VisionQwest: report
abs-cbnNEWS.com
Posted at 08/22/2011 8:46 AM | Updated as of 08/22/2011 2:05 PM

MANILA, Philippines – Manny Pacquiao has fired management company VisionQwest, which has been looking through the boxing champ's financial records, a report said.

VisionQwest chief executive officer Michael Lodge confirmed in an e-mail that Pacquiao has terminated their services.

He expressed concerns that "there are agendas that are not healthy for our client."

"It is true. Our office just received a letter via fax from Manny's attorney in Los Angeles. We have forwarded the letter to our legal counsel to respond accordingly," Lodge said.

"As you know there has been a lot of pressure upon Manny from outside sources to remove us from his accounting team. Our firm will deal with this issue in a legal manner.

"We are in the Philippines meeting with our counterparts in legal and accounting prior to meeting with Manny."

Pacquiao had hired VisionQwest to handle accounting, personal and business tax, audits and examinations and contract reviews, according to a press release from Pacquiao's official website, www.mp8.ph.

[Gino Ros]

http://philboxing.com/news/story-58973.html

Pacquiao and the VisionQwest Question

By Eddie Alinea
PhilBoxing.com
Mon, 22 Aug 2011

Filipino ring idol Manny Pacquiao stands to face another legal battle as an offshoot of his reported termination of his contract with American accountancy firm VisionQwest Resource Group Inc.

Representatives of the firm, headed by its president and CEO Michael L. Lodge, were in fact, meeting with the eight-division champion as of press time yesterday in an effort to clarify several issues involved in the supposed termination.

Lodge and his group arrived in Manila over the weekend precisely to seek audience with their client, who, barely weeks ago, had hired the Los Angeles-based firm for the purpose of straightening and protecting Pacquiao’s financial and business dealings.

“We will meet with Manny this afternoon ,” Lodge, who also heads VisionQwest’s subsidiary in accountancy and healthcare and global groups, told this writer in his message. “We will see what happens.”

Lodge said they will be presenting and discussing with the reigning World Boxing Organization welterweight kingpin what his firm refers to as “interference issues.”

News that the Pacman had “fired” VisionQuest floated early last week and picked up by not a few websites. Despite this development, Lodge said his group will continue to remain focused on fulfilling the contracted responsibilities between VisionQwest and Pacquiao.

“ VisionQwest has built a solid team of professionals to provide our client with various resources to resolve concerns and issues. VisionQwest continues to support Manny Pacquiao.” Lodge said.

Pacquiao’s striking a deal with VisionQuest stemmed from suspicion that the country’s boxing hero could have been shortchanged in his previous fight and even in his endorsement contracts and concerts appearances in the U.S.

Boxing writer Ben Thompson, who first exposed the surprised termination via his website Fighthype.com that Pacquiao’s adviser Michael Koncz and Bob Arum were “doing everything in their power to remove the very same people who were brought in for the sole purpose of making sure Manny is getting paid correctly. Koncz denied that he and Arum have something to do with the termination.

[sugersean15]

how can arum dine he had anything to do with it .it was toprank who sent the termination contract to visionqwest

[Kenny MF Powers]

This **** is crazy...

[Gino Ros]

how can arum dine he had anything to do with it .it was toprank who sent the termination contract to visionqwest

If MP had signed a contract with VQ, then he can't simply fire them without cause.

Unless there was an opt-out/buyout clause.

[$coinblatt$]

Pacquiao is a slow fucking dummy

[icebergisonfire]

Hard to have sympathy for someone that makes more money in a day than all of this board combined. Damn shame.

[p4p-champ]

As much as i disrespect the midget for not taking a simple random blood test, I actually feel sorry for Manny, the way Arum is able to manipulate him and pull the wool over his eyes is uncanny. Manny has busted his ass all these years only to have some old greedy sack of shit, steal his earnings.

[cupocity303]

Pacquiao is a slow fucking dummy

I have made countless posts on this.

The two P4P Kings are both reckless with their money. One makes it rain at clubs, buys houses left and right, takes out countless credits. doesn't pay his taxes on time. The other signs contracts he isn't supposed to, maybe too much charity compared to his counterpart, gambling etc,.

There needs to be a poll on who goes broke first after they've retired for good.

[Slip Stream]

I think this whole VisionQwest debachle says just how much Manny needs people around him that are solely concerned with his business interests. At the rate he's going Pacquiao will be broke by the end of career, if he isn't broke already. I seem to remember a 24/7 where Freddie Roach expresses his concern that Manny will be broke by the end of his career. Manny has such a large entourage and a lot of people, including his promoter, that are hanging on for dear life until every last drop of financial wealth is drained.

The sport of boxing is replete with fighters that won amazing sums of money but in the end became paupers.