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Ring Magazine featherweight champion Manny Pacquiao has been advised not to accept an offer dangled by his registered manager Marty Elorde for a renewal pf his contract which expires on January 31, pointing out that Pacquiao could earn much more from his upcoming fights compared to what Elorde was offering him.
Elorde who claimed that with several deductions taken out of his manager’s share of Pacquiao’s purse he winds up with 20 percent net instead of 30 percent has offered Pacquiao a P5 million signing bonus which he has indicated could go as high as P10 million plus a monthly allowance of P10,000 for a five year extension of his manager’s contract. However, the advisers of Pacquiao disclosed that Elorde could recover his investment in one shot in the scheduled February 26 rematch with WBA/IBF champion Juan Manuel Marquez since the purse of Pacquiao was $900,000 and that even 20 percent at the current exchange rate would net Elorde more than P10 million.
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Elorde who claimed that with several deductions taken out of his manager’s share of Pacquiao’s purse he winds up with 20 percent net instead of 30 percent has offered Pacquiao a P5 million signing bonus which he has indicated could go as high as P10 million plus a monthly allowance of P10,000 for a five year extension of his manager’s contract. However, the advisers of Pacquiao disclosed that Elorde could recover his investment in one shot in the scheduled February 26 rematch with WBA/IBF champion Juan Manuel Marquez since the purse of Pacquiao was $900,000 and that even 20 percent at the current exchange rate would net Elorde more than P10 million.
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