In a way, he does.
He takes advantage of his situation, one where Manny can't say no to people so he has a whole cadre of hangers on, leaches and rogues around him without someone strong like Arum to keep the good ship Pacquiao moving forward it would have crashed on the rocks years ago.
Arum is using this situation to make himself a lot of money, but I would say Pacquiao needs Arum because even if he made more without him, it would go out the door exponentially quicker. So you could argue Arum is worth it because Pacquaio's career is in decent enough shape and he is still making excellent money for a boxer.
Glass half empty or glass half full whichever way you want to look at it.
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