By Edwin Espejo Aug 22, 2011 11:22AM UTC
http://asiancorrespondent.com/63034/pacquiao-watch-broke-or-not-theres-more-that-meets-the-eye/
Counting the upsides from all his previous fights since 2006 (pay per view receipts, TV rights, live gate proceeds, fight merchandise, commercial endorsements, etc), Pacquiao should have already accumulated well over US$150 million in gross earnings.
By Filipino standards, he should be a billionaire as his latest statement of assets and liabilities (SAL) filed before the House of Representative indicated he is at the moment.
But Pacquiao coach Freddie Roach was reported to have said his ward is now broke and he has to continue fighting.
Until an audit of Pacquiao’s financial records is made public, nobody will ever know if Roach was telling something many already suspect to be the case.
Pacquiao’s generosity, sometimes to a fault, has been widely reported and his ever growing entourage whenever he travels here and abroad has not escaped the attention of the press and ordinary observers.
But his biggest expenditures may be in politics where he spent huge amounts of his personal money in two consecutive election campaigns, 2007 and 2010.
If reports and media accounts are to be believed, Pacquiao spent well over P500 million (US$10 million) in these elections.
That figure should hardly put a dent on his gross earnings but one must also take into account the taxes he had to pay with the US Internal Revenue Service and the Bureau of Internal Revenue (Philippines) which ate up considerable percentages of his income.
Added to that are his high-flying lifestyle and high maintenance costs that go along with it.
That Pacquiao continues to fight despite having already secured his dream of becoming a member of the House of Representative may give some credence to Roach’s statement that he is now broke. Maybe not dirt poor broke but he could be headed into that direction unless things are straightened out.
With all his previous earnings Pacquiao should be living on interest. Or is he now living on cash advances?
There is more than meets the eye in Roach’s statement, if it is true. But only Pacquiao knows. Inscribed in one of his signature T-shirts, incidentally, is a big “PACMAN KNOWS”.
Terminating a contract isnt that difficult,Pacquiao can afford to pay them off without even feeling a dent in his broke ass
As long as Pac fulfills his services contract (if any) with VQ.
But we all know that Manny isn't very good with contracts. :D
Did Pacquiao sign a contract with VQ? If so, he can't just terminate them without a legitimate reason.
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.
Terminating a contract isnt that difficult,Pacquiao can afford to pay them off without even feeling a dent in his broke ass
A Pactard gave me red K for this. You guys are something else.
:lol1:
What's wrong w/ Red K's really? Red K only means they dont agree w/ your post. Whats the big deal?
:lol1:
Right. Hey, have you seen Deevel posting about Manny's finances or about him going "broke"? Remember he was all over that when Fraud Gayweather Jr was "broke"?
A Pactard gave me red K for this. You guys are something else.
:lol1:
again, for people like you. They lie when it benefits them. How would lying about manny being broke benefit them, lmfao. Why lie on the fighter you support. When they talk floyd they are outside looking in so all the can do is lie and speculate kinda like you.
Did Pacquiao sign a contract with VQ? If so, he can't just terminate them without a legitimate reason.
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.
What's funnier is these clowns say the whole time, Roach and Ariza's full of sh!t.
Now suddenly to these stans, these guys are credible making that comment that Pac's broke!
:rofl:
again, for people like you. They lie when it benefits them. How would lying about manny being broke benefit them, lmfao. Why lie on the fighter you support. When they talk floyd they are outside looking in so all the can do is lie and speculate kinda like you.
i for one think its cute that floyd fans have taken a personal interest in pacquiao's finances.
maybe it makes them feel better for being a fan of a universally known pussy?
you got owned in this thread hypocrite.
One of the theories is that Pacquiao is waiting for his contract to end with top rank to fight Mayweather
His contract is up after the Marquez fight right?
I understand the Floyd fans at least, though I feel it's all so petty, they're paying back all of the Pactards who ridiculed Floyd for the same things. What goes around comes around.
http://students.ou.edu/Y/Jacob.R.Yandell-1/karma.png
i for one think its cute that floyd fans have taken a personal interest in pacquiao's finances.
maybe it makes them feel better for being a fan of a universally known pussy?
I dont believe there's ever been a more irrational, more inconsistent group of fans than Pactards and Flomos.
Floyd's tax liens become public, Pactards take great joy in perpetuating how broke Floyd is; that he's going to fight forever and end up like Tyson. Flomos say "why do you care about another man's money?"
Little by little, news and info leak that Pacquiao's in financial trouble, Flomo's take great joy in posting every article on the subject. Pactards say "why do you care about another man's money?"
It's the lamest shit ever. It is truly possible to like both fighters, or at least not hate both of them to a point you wish bad on them outside the ring. Get a life.
I understand the Floyd fans at least, though I feel it's all so petty, they're paying back all of the Pactards who ridiculed Floyd for the same things. What goes around comes around.
For a guy that got into so much discussion about how Mayweather couldnt pay this or that in 2009 you shouldnt really talk at all, your post history tells how you were rejoicing and joyous in those days.
The search feature is a beautiful thing, isn't it?
By Edwin Espejo Aug 22, 2011 11:22AM UTC
http://asiancorrespondent.com/63034/pacquiao-watch-broke-or-not-theres-more-that-meets-the-eye/
With all his previous earnings Pacquiao should be living on interest. Or is he now living on cash advances?
http://media.tumblr.com/tumblr_lgqinow8bN1qayhrz.gif