http://www.fighthype.com/pages/content10813.html
VisionQwest has exposed Pacquiao's financial nightmare...
Key points:
Manny believed that his fight promoter was not paying him his fair share
Manny has not paid back money he and Mike Koncz borrowed from VQ to help purchase a home for Mike Koncz in Orange County, California
Manny and Mike Koncz both requested VQ not to charge him upfront for fees and costs because they claimed that there was a lack of funds
Tax Audits had been issued as well as tax levies
VQ identified ridiculous amounts of money being paid to Michael Koncz and the fact that Michael Koncz not only worked for Manny and MP but Top Rank, Inc. as well.
Manny was distraught and after reviewing the documentation, Manny agreed to pursue Top Rank, Inc. as well as Michael Koncz
From the documents that were furnished, VQ and its staff were able to decipher various accounting issues and were very concerned that there were considerable un-answered questions regarding the recording of revenue (through a verification processes with outside companies) and their expenses
Manny and MP did not have any important documents in their possession like bout contracts, bank statements, bout proceed distributions, endorsement contracts, promoter contracts, co-promoter contracts, property ownership records and many other important documents
Manny requested that no legal action take place until Manny received his advance for his upcoming fight in November 2011 from Top Rank
http://www.examiner.com/images/blog/replicate/EXID21442/images/bob_arum_ap.jpg
http://www.examiner.com/images/blog/replicate/EXID5699/images/resized_koncz_and_arum_huddle.jpg
https://lh6.googleusercontent.com/--HVXjqwheVM/TY2ryZ4TtrI/AAAAAAAABtY/ZIYuMRzsMBU/pacquiao-twitter.jpg
So, The Illiterate with all his amazing footspeed and ATG footwork can't cut off a ring on a 40 year old man?
his legs cramp up when the guy in front of him starts moving.
So, The Illiterate with all his amazing footspeed and ATG footwork can't cut off a ring on a 40 year old man?
for someone who's constantly up to date with all things Manny, you're rather ignorant of that particular fight.
manny had cramps towards the later rounds and had problems moving. add that to the fact that mosley was practically SPRINTING away from manny and you've got a lousy fight.
in short, manny couldn't fight someone who REFUSED to fight him.
You are a reasonable Pac fan. By the way, are you Pinoy?
The vast majority of Pac fans have an inferiority complex. They feel inferior because of their short, chubby bodies, or something else. In Manny, they see the embodiment of all their hopes and aspirations, and they have cast a God-like status upon him.
But even Jesus Christ had a traitor in his inner circle, right? So why would people think that Arum isn't a snake who is fukking Manny dry?
The idiot Pacquiao fans blindly defend the ENTIRE TEAM.
Yes, I am a Pinoy Pacfan. Have you read Pacquiao's profile in GQ awhile back titled :
The Biggest Little Man in the World by Andrew Corsello ?
http://www.gq.com/sports/profiles/201004/manny-pacquiao-boxer
So, The Illiterate with all his amazing footspeed and ATG footwork can't cut off a ring on a 40 year old man?
he can only jump in and out and if your slow enough he can dodge shots moving left to right
yeah, the mosley fight was seriously bad. but in fairness it was mosley's fault for spending most of the time running away from Pac and it was Pac's fault for choosing to fight mosley in the first place.
.
So, The Illiterate with all his amazing footspeed and ATG footwork can't cut off a ring on a 40 year old man?
I'm a Pac fan. I do believe he is in a financial mess. Even Roach says Pacquiao is broke. His legal/ financial problems don't change my opinion of him as a fighter. I, however, don't understand why other Pac fans defend Arum and Koncz.
You are a reasonable Pac fan. By the way, are you Pinoy?
The vast majority of Pac fans have an inferiority complex. They feel inferior because of their short, chubby bodies, or something else. In Manny, they see the embodiment of all their hopes and aspirations, and they have cast a God-like status upon him.
But even Jesus Christ had a traitor in his inner circle, right? So why would people think that Arum isn't a snake who is fukking Manny dry?
The idiot Pacquiao fans blindly defend the ENTIRE TEAM.
I like Ariza just for the fact that he gave Koncz a slap and 5 punch combo during the Pac/Cotto Camp. Pacquiao is also at fault for the chaos within Team Pacquiao. Does he not care or is he in denial? Roach says Pacquiao thrives on the drama, because its what makes him tick. Hmm, ok. Also, who are all these people on Team Pacquiao ? The 200+ entourage is crazy. I find humor in the fact that Pacquiao is paying the bill for travel, lodging, and fight tickets for his "entourage." The Filipino politicians he's paying for has more money than him. This drama, however, is Pacquiao's problem.
I'm a Pac fan hoping for a good fight against Marquez, because that last one with Mosley , SUCKED.
actually, manny is one of the RICHEST lawmakers in the philippines.
http://www.internetphilippines.com/philippine-politics/top-10-richest-congressman-in-2011/
so what if he has a 200+ entourage? as long as it makes him happy, i say its money well spent. it beats saving up all your money and end up having your relatives or even total strangers spending it.
yeah, the mosley fight was seriously bad. but in fairness it was mosley's fault for spending most of the time running away from Pac and it was Pac's fault for choosing to fight mosley in the first place.
the Marquez fight is a meh fight for me, mainly because it should have been done years ago and at 140 at least.
i'll still watch it in ppv though. just to get the satisfaction of seeing manny make marquez STFU.
I agree 100%...I love Pac as a fighter, but I don't get why so many people defend "Team Pac" on their actions...guys like Roach (knowingly trained juiced fighters), Ariza (long history of juicing athletes), and Arum (no explanation needed) get a free pass from the diehard Pacquiao fans...his team is a bunch of cheaters and they make him look guilty even if he is innocent.
I like Ariza just for the fact that he gave Koncz a slap and 5 punch combo during the Pac/Cotto Camp. Pacquiao is also at fault for the chaos within Team Pacquiao. Does he not care or is he in denial? Roach says Pacquiao thrives on the drama, because its what makes him tick. Hmm, ok. Also, who are all these people on Team Pacquiao ? The 200+ entourage is crazy. I find humor in the fact that Pacquiao is paying the bill for travel, lodging, and fight tickets for his "entourage." The Filipino politicians he's paying for has more money than him. This drama, however, is Pacquiao's problem.
I'm a Pac fan hoping for a good fight against Marquez, because that last one with Mosley , SUCKED.
Why is Pacquiao still fighting under Arum? He is a sneaky sneak and doesn't care about his fighters, he just robs them.
How stupid can people be? At least Floyd is smart and got the f*ck out.
I'm a Pac fan. I do believe he is in a financial mess. Even Roach says Pacquiao is broke. His legal/ financial problems don't change my opinion of him as a fighter. I, however, don't understand why other Pac fans defend Arum and Koncz.
http://www.fighthype.com/pages/content10813.html
VisionQwest has exposed Pacquiao's financial nightmare...
Key points:
Manny believed that his fight promoter was not paying him his fair share
Manny has not paid back money he and Mike Koncz borrowed from VQ to help purchase a home for Mike Koncz in Orange County, California
Manny and Mike Koncz both requested VQ not to charge him upfront for fees and costs because they claimed that there was a lack of funds
Tax Audits had been issued as well as tax levies
VQ identified ridiculous amounts of money being paid to Michael Koncz and the fact that Michael Koncz not only worked for Manny and MP but Top Rank, Inc. as well.
Manny was distraught and after reviewing the documentation, Manny agreed to pursue Top Rank, Inc. as well as Michael Koncz
From the documents that were furnished, VQ and its staff were able to decipher various accounting issues and were very concerned that there were considerable un-answered questions regarding the recording of revenue (through a verification processes with outside companies) and their expenses
Manny and MP did not have any important documents in their possession like bout contracts, bank statements, bout proceed distributions, endorsement contracts, promoter contracts, co-promoter contracts, property ownership records and many other important documents
Manny requested that no legal action take place until Manny received his advance for his upcoming fight in November 2011 from Top Rank
http://www.examiner.com/images/blog/replicate/EXID21442/images/bob_arum_ap.jpg
http://www.examiner.com/images/blog/replicate/EXID5699/images/resized_koncz_and_arum_huddle.jpg
https://lh6.googleusercontent.com/--HVXjqwheVM/TY2ryZ4TtrI/AAAAAAAABtY/ZIYuMRzsMBU/pacquiao-twitter.jpg
Has Manny 'broke' away from his puppetmasters yet?
Regardless of whether or not this is true I don't know why Pacquiao fans extend their support to everyone in Pacquiao's camp, individuals who are leeching off of his success.
That being said the way boxing is managed is extremely backwards. Too much corruption, too many fighters getting financially robbed, and not enough of the money generated reinvested in the sport.
Because those camp members publicly say nice things about their illiterate congressman.
When you have an inferiority complex like The Illiterate's fans do, you cling to anyone that pays you a compliment.
Regardless of whether or not this is true I don't know why Pacquiao fans extend their support to everyone in Pacquiao's camp, individuals who are leeching off of his success. That being said the way boxing is managed is extremely backwards. Too much corruption, too many fighters getting financially robbed, and not enough of the money generated reinvested in the sport.
This quote is one of the things that scares me about a lot of Pacquiao fans, Its like they are defending Pac even when his own team are shady, we still have the "I dont care Pac is rich" attitude everywhere, In 4 years time when Pac is broke they would then be crying for arum or Koncz to be leeched.
The funny thing is, I bet Arum and Konz have done nothing illegal on paper, they made him sign away all his money to them because he never understood the contracts he signed.
Well, there are possible illegalities. Possible.
Arum filed contracts with the NSAC. He submitted conflicting documents to GBP (and presumably, Manny). Two different financial statements means that AT LEAST one of them is fraudulent.
Sending someone false financial statements is potentially wire fraud/mail fraud. Or grand larceny.
It is certainly civil..with the possibility of being criminal as well.
Regardless of whether or not this is true I don't know why Pacquiao fans extend their support to everyone in Pacquiao's camp, individuals who are leeching off of his success.
That being said the way boxing is managed is extremely backwards. Too much corruption, too many fighters getting financially robbed, and not enough of the money generated reinvested in the sport.
I hate being in the position to defend VQ. You know what I said about them previously. I stand by my findings.
That having been said, Koncz was critical of VQ in the press. So , in the interest of preserving their company's reputation (as it were), they have the right to clear the air and defend themselves. Moreover, they have the responsibility to defend tehmselves.
Also, VQ has a Filipino client base. How do you think those Filipinos would fel if they perceived that VQ was mistreating their illiterate god?
VisionQwest might actually be onto something, and Pac is really in trouble (imo, it's his contract/books with Arum is what's in trouble, not his overall asset).
VQ making this a public affair only makes themselves look shady and unprofessional.
I recall them making a scene over that failed Mayweather negotiation with the South African delegates.
Manny is an idiot for being easily "convinced" by anyone.
14y ago
PACQUIAO EXPOSED: Manny is Broke... Believes Arum is Hiding Money!!! | BoxingScene Community