Advertisement
Advertisement

Koncz Not Worried About Accounting Claims on Pacquiao

By Michael Marley

Manny Pacquiao's agent Michael Koncz had a brief but pungent response to a press release blasted out by the fighter's former accounting firm, VisionQwest.

In the lengthy release, which I carried verbatim in this space Wednesday, VQ which is headed up by Michael Lodge and operates in both the U.S. and the Philippines, alleges that its efforts to obtain and audit pertinent financial records were repeatedly stymied by Pacquiao's promoter Bob Arum of Top Rank, by Koncz and finally by Pacquiao himself when the boxer fired the firm.

Koncz, the often-controversial Canadian who once took a run at resurrecting the ring career of heavyweight contender turned mental case and prison inmate Ike Ibeabuchi, said the odor emanting from VQ is that of sour grapes.

"Predictable comments from a disgruntled company which was fired by Manny Pacquiao," Koncz wrote in an email to me Thursday.

Lodge and colleagues were in Manila to meet Pacquiao at the end of August but got stood up and then axed by the Pound for Pound ring king.

Speaking to the media on Aug. 25, Lodge said a lawsuit was forthcoming.

"No more games to be played," Lodge said, a bit cryptically.

Now that Lodge's outfit has taken its public shots at Top Rank and Koncz, only a couple of questions remain.

One, will VQ want to possibly alienate itself by sueing Pacman and/or his chosen promoter and henchman Koncz?

With Pacquiuao's phenomenal popularity in his homeland and his Congressional position, not to mention growing speculation of a presidential bid in the future, it might make sense for VisionQwest to drop the matter.

Pacquiao's books, including his American tax issues, are said to being dissected now by a Los Angeles area accounting firm which, according to Arum, was recommened by the fighter's attorneys in that city, Daniel Petrocelli and David Marroso.

Tanner, Mainstain, Blatt & Glynn have been hired to clean up Pacman's financial mess, including the IRS issues.

"I've verified that they're all certified public accountants, and I’ve prioritized what they've been hired to do," Koncz said to RingTV's Lem Satterfield. "The first priority is to contact the IRS, to inform the IRS that they’ve taken over Manny’s representation, and to facilitate whatever information they're entitled to and that they need to continue the audit that's been ongoing."

"I furthered assured them at any and all documents requested by the accounting firm will be provided forthwith," Koncz said.

Top Rank Inc. CEO and Pacquiao's promoter, Bob Arum said he will be cooperating with the firm.

"They're a terrific firm. They were highly recommended, and we're working with them on the IRS audits of Manny's returns," he said.

A second lingering question is that VQ expected to get on Pacman's revenues by asking the Nevada State Athletic Commission.

Like most state boxing commissions, Nevada collects bout contracts, not promotional contracts, and thus would have not a single detail as to pay-per-view TV income and other income sources for the world's most popular fighter.

Third, many companies do not want to give current and potential future clients that they might be sued if the client(s) decides to terminate its relationship.

We shall see what we shall see...

User Comments and Feedback (Register For Free To Comment) Comment by GRUSTLER on 09-26-2011

[QUOTE=dosepulgada;11209705]Manny will never be bankrupt because he has so many opportunities and he's working hard outside boxing. He's an actor, singer, gameshow host other than being a politician. So whether he burns all his money hell be earning from boxing,…

Comment by dosepulgada on 09-25-2011

Manny will never be bankrupt because he has so many opportunities and he's working hard outside boxing. He's an actor, singer, gameshow host other than being a politician. So whether he burns all his money hell be earning from boxing,…

Comment by LeadUppercut on 09-25-2011

This thread only did 2 pages, but it was clear, concise, and to the point. Why ? Because [B]there aint no ignorant pactards here messing it up[/B] :lol1: [QUOTE=lfc19titles;11207468]blah, blah, whiney excuse... blah... excuse[/QUOTE] Damn, there goes the neighborhood.

Comment by LeadUppercut on 09-25-2011

[QUOTE=lfc19titles;11207468]Ehh, how about you wait and see what happens before you get your panties in a twist LeadUppcut? Nice sig maybe you should put the Floyd "Manny Pac, yes you are next" then 1 week later Pac, Arum and on…

Comment by lfc19titles on 09-25-2011

Ehh, how about you wait and see what happens before you get your panties in a twist LeadUppcut? Nice sig maybe you should put the Floyd "Manny Pac, yes you are next" then 1 week later Pac, Arum and on…

Post a Comment/View More User Comments (21)
Top Headlines Fury's Coach: Parker is a Very Serious Test For Anthony Joshua Steven Lewis Aims To Make Statement on Echo Arena Card Radmir Akhmediyev, Pablo Cruz Get Big Wins in Houston Povetkin Not Backing Down: We'll Do Everything To Get Wilder! Anthony Ogogo - Sauerland, De La Hoya Expect Big Things Tyrone Nurse Says Willie Limond Will Never Make it To Ricky Burns Arum Praises Pacquiao For Rejecting Offer To Fight in Olympics Roach Backs Canelo: Golovkin The Best, But Brings NO Money! Donnie Nietes, Raul Garcia Make Weight - Melindo is Way Over Photos: Shane Mosley, David Avanesyan Putting in Work For Battle Demetrius Andrade Focused: My Time's Gonna Come Photos/Weights: Jarrell Miller vs. Nick Guivas, Dela Torre, More Roach Feels Chavez Jr. - If in Shape - Could Test Gennady Golovkin Errol Spence: Vargas Will Need KO or Beat Brook's Ass To Win in UK Daniel Jacobs-Sergio Mora Rematch on The Horizon? Lucian Bute Reacts To Failed Drug Test, Will Open His B-Sample Bob Arum Offers To Stage Trump vs. Sanders Debate on PPV Cohen Feels Jarrell Miller is The Best Young American Heavyweight Deontay Wilder-Chris Arreola in Play For Summer Showdown Video: Joseph Diaz Discusses His Career, The Future, More Et Tu, Bute? Former Champ in Hot Water After Failing Drug Test Video: Sergio Mora Discusses Golovkin, Canelo, Jacobs, More Frank Warren: Not in a Million Years Does Eubank Jr. Beat Golovkin Phil Lo Greco-Joseph Elegele Tops PBC on Bounce, June 12th Lucian Bute Fails Drug Test, Positive For Ostarine in Jack Draw Gerald Washington: Deontay Wilder Title Fight is 'Very Possible' Abril, Foreman Broadway Boxing Double: Full Card Details Provodnikov's Promoter Not Surprised His Fighter Went To SHO Hedi Taouab, Legendary Matchmaker Passes Away at 68 Manny Pacquiao Declines Opportunity To Fight in Rio Olympics Photos: Wladimir Klitschko Putting in Work for Tyson Fury Rematch Photos: Tony Bellew, Ilunga Makabu Go Face To Face at Presser Roy Jones Jr. Backs Countryman Povetkin, Says He's Not To Blame Willie Limond Hopes To Land Ricky Burns Showdown Tony Bellew: I'll Show Makabu That I'm The Real Cruiserweight Nonito Donaire Headed To Jessie Magdaleno Clash Next? Shields: Canelo Running From Golovkin; Won't Face Jermall Charlo Eubank Jr: Canelo a Mexican Warrior? That Was Embarrassing! David Price Aims To Land Anthony Joshua Shot in The Fall Photos: Casimero, With Tyson and Jones at Ringside, Gets Revenge
Advertisement

Latest Active Forum Threads
Advertisement
Advertisement