Pacquiao May Train in The Bahamas For Cotto
By Ronnie Nathanielsz
Top Rank promoter Bob Arum explains that the idea of Filipino boxing icon setting up training camp in the Bahamas before winding down his preparation at the Wild Card Gym of trainer Freddie Roach in Los Angeles for the showdown against Miguel Cotto on November 14 will help Pacquiao save on taxes.
In a lengthy telephone conversation with BoxingScene.com, insidesports.ph, Standard Today and Viva Sports, Arum said the US Internal Revenue Service had changed its rules and explained that “In 2007 its one-sixth of the days spent in the US, 2008 its one-third of the days spent which will be added to 100 percent of the days spent in the US in 2009 and if the total of those three numbers equals or exceeds 183 days then you are taxed on all your revenues from worldwide income.”
Arum said should Pacquiao “train full-time in the US for this fight the account said he would be coming very, very close to the 183 number so he wants to avoid that, obviously. In order to avoid it you cut down on the number of days he spends in the US and by training in the Bahamas he wouldn’t be subject to the 183 day rule.”
The Top Rank promoter said Pacquiao’s adviser Michael Koncz would speak to the boxing icon on Thursday and explain the situation. Arum said the Bahamas is only 45 minutes away from Miami and even Cotto had trained there before but said “while I hope Manny trains in the Bahamas but if he chooses not to its up to him.”
Conditioning expert Alex Ariza who helped Pacquiao get into tremendous shape for his last three fights against David Diaz, Oscar De La Hoya and Ricky “Hitman” Hatton said “Manny called me on Sunday and asked me to pack my stuff and come to the Philippines.”
However, boxingscene.com learned that the plan to train in the Philippines had been shelved because there were far too many distractions and that Roach was planning to leave on Friday for Miami and on to the Bahamas.
On the issue of fighting for Cotto’s WBO welterweight title, Arum said “it’s a mess” pointing out that Cotto didn’t want to put his title on the line and pay the large sanction fee but Arum expressed confidence he can work it out.
Arum reiterated his previous stand that “nobody really cares” and went on to say “until it became a big issue with the Philippine press and Michael Marley.” Arum said he would “talk to Manny and Miguel and if they both want to do it for the title that’s fine and if they want to pay $150,000 apiece for a belt that’s worth $5 that’s their prerogative.”
Arum recalled that Pacquiao told him he “didn’t care about the title but it now seems that he’s pushing it” but stressed “whatever he wants I will work out.”
At the same time Arum disclosed that there were “a very few tickets left for the fight” and of the 16,500 tickets only around 3,000 will be available.
