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Posted on 11/26/13 at 10:23 am to WG_Dawg
quote:
i doubt he's broke. hiding money is much more likely and he's just doing all of this to act broke
dude has to be hiding money
and the Philippine government cant do shite about it cuz he's a national hero. if they tried to lock him up there would be riots everywhere
Posted on 11/26/13 at 10:53 am to sgallo3
The dude has always had one of the biggest entourages ever. I wouldn't doubt for a second that he's broke.
Posted on 11/26/13 at 10:57 am to SlowFlowPro
quote:
i doubt he's broke. hiding money is much more likely and he's just doing all of this to act broke
Oh he broke
quote:
Trainer Freddie Roach Says Manny Pacquiao Is Broke & Has To Keep Fighting
Boxing trainer Freddie Roach, made a pretty eye popping comment recently when talking about his fighter Manny Pacquiao.
During an interview Roach reportedly told author and boxing trainer Brin-Jonathan Butler, that because of Pacquaio's large entourage and big heart he has to keep fighting, no matter what.
“He’s broke because of that and all the people he flies around to his fights," Roach said. "He goes through money like you wouldn’t believe. He can’t say no. Of course he’ll have to keep fighting. He does now. He won’t be able to stop – it’s his life.”
The Filipino champion made $20 million for his fight with Shane Mosely in May 2011. He's had previous paydays of $15 million for facing Oscar dela Hoya in 2008, and $13 million for each fight against Ricky Hatton and Miguel Cotto in 2009. In 2010 he got $12 million to defeat Joshua Clottey, and an additional $20 million when he destroyed Antonio Margarito that same year.
With that kind of income it's hard to imagine Pacquiao would be having financial problems, but Roach knows him probably better than anyone else.
quote:
Is Pacquiao going bankrupt?
Rex “Wakee” Salud, a long-time confidante of the Filipino boxing superstar, revealed Pacquiao’s financial status in an interview with Sun Star Cebu’s Erwin Lirazan.
"Di lang kay nahurothurot, hurot gyud! (He did not just lose his money, he lost all of it)," said Salud, who has known Pacquiao since he started boxing in the mid-'90s.
quote:
Manny Pacquiao Borrowed Millions From Bob Arum To Stay Out of Debt
Besides the womanizing, there was smoking, drinking, heavy gambling — which caused him to take seven-figure advances before recent fights from Top Rank promoter Bob Arum in order to pay his debts — and partying nights away while trying to also balance boxing and his political career.
Posted on 11/26/13 at 11:08 am to SPEEDY
I still don't believe he's broke. most athletes are dumb, but they aren't retarded.
I mean, you think TO, AI, ocho, etc. that come up "bankrupt" 1-3 years after they retire/can't get on a team are actually bankrupt/broke? They keep it locked up in an account they can't touch until they're older, all about security for when they're older. That and some of them probably hide it in gold bullions because they don't wanna pay 50million in taxes. let that sink in, FIFTY MILLION.
I mean, you think TO, AI, ocho, etc. that come up "bankrupt" 1-3 years after they retire/can't get on a team are actually bankrupt/broke? They keep it locked up in an account they can't touch until they're older, all about security for when they're older. That and some of them probably hide it in gold bullions because they don't wanna pay 50million in taxes. let that sink in, FIFTY MILLION.
Posted on 11/26/13 at 11:25 am to SPEEDY
Manny is gonna be lucky if Floyd gives him 20% of the purse now. I can't believe that idiot wanted 50%! 
Posted on 11/26/13 at 11:31 am to htran90
I think you're giving these guys too much credit. Sure there may be some that are smart enough to lock some away but I don't think most of these guys have any concept of long-term financial security. They live in the here and now. Everything is in excess. They don't understand income taxes. They see the number on their contract and spend money like they actually take home the amount on the contract. And they spend it like they will keep getting contracts like that for the rest of their life.
You know how much pride most of these guys have? I think declaring bankruptcy would be an absolute last resort for somebody that flaunts money like most big-time athletes.
You know how much pride most of these guys have? I think declaring bankruptcy would be an absolute last resort for somebody that flaunts money like most big-time athletes.
Posted on 11/26/13 at 12:44 pm to Silky Johnston
Please figh Mayweather.
I may actually root for Pac Man.
Not really. Money is my man.
I may actually root for Pac Man.
Not really. Money is my man.
Posted on 11/26/13 at 1:01 pm to WG_Dawg
quote:
why? What does he have to gain by acting broke? I mean if he wants to walk around the streets like Joe Everyman I get that..but when the IRS is freezing your accounts because you owe taxes from 5 years ago, I'd say the jig should probably be up at that point yes? And he can still "act" broke..just quietly send them a check for the $50M and go on about your life.
You always hide money away (not in banks or tied up in shite), and if you can keep some of that shite off the books, do it. The dude has millions hidden probably in different places around the world.
Posted on 11/26/13 at 1:06 pm to SPEEDY
quote:
Oh he broke
Manny has millions somewhere and I bet the guy means he has to keep fighting to live the way he has been living.
Posted on 11/26/13 at 2:04 pm to Datbayoubengal
Obviously suspicious that "friends and people who work for him" would come out and say he's broke and give the same story.
Sounds like Manny is spreading disinformation.
Otherwise, why would "friends" be so emphatic to slander him?
Sounds like Manny is spreading disinformation.
Otherwise, why would "friends" be so emphatic to slander him?
This post was edited on 11/26/13 at 2:05 pm
Posted on 11/26/13 at 3:20 pm to Broski
quote:
Hey Manny, you can make all that debt go away with one fight.
At the very least, he should call Floyd and ask him what his next big bet is going to be.
Posted on 11/26/13 at 3:23 pm to Walking the Earth
Arum is about to call The Money Team and cash out Pacquiao.
Posted on 11/26/13 at 7:42 pm to Marciano1
quote:
If you are wondering how all this can be happening, SB Nation’s Brin-Jonathan Butler gives an extensive breakdown of how Pacquiao could have lost $200 million. Here are just some of the bullet points from that story.
20% goes to managers & promoters
10% goes to Freddie Roach.
Alex Ariza before he was fired was paid a %.
US & Philippines Taxes (that he may not have paid).
Training Camp Expenses.
The Entourage (trainers, assistants to the trainers, advisers, assistants to the advisers, cooks, dishwashers, car washers, publicists, gofers and security).
The women (before he was “saved”)
100s of flight tickets and hotel accommodations for each fight.
Spending money for the entourage.
Gambling debts.
Taxes on property holdings and expenses on luxury cars.
His propensity to give away money away to anyway who asked for it.
Financing his and his wife’s political career.
The church to cleanse him of his sins.
Multiple lawsuits.
Lastly, he pays someone to say “no” to people who ask him for money.
LINK
What the frick do managers and promoters do to deserve 20% of a fighter's purse? And why is Pacquiao paying flight tickets and hotel accommodations for hundreds of people to come to his fights? Let them pay for their own shite. Pacquiao is such a dumbass.
Posted on 11/26/13 at 9:07 pm to Silky Johnston
quote:
The dude has always had one of the biggest entourages ever. I wouldn't doubt for a second that he's broke.
Do you realize just how hard it is to spend like $150 million? In the Philippines, no less?
This post was edited on 11/26/13 at 9:11 pm
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