Sports

Manny Pacquiao Having Financial Problems Yet Again?

| by Alex Groberman
article imagearticle image

By now boxing fans know better than to buy into the idea of showdown between Manny Pacquiao and Floyd Mayweather Jr. I mean, it could still happen, obviously. And if we’re being truthful, the chances of it happening in 2014 are probably better than they ever have been. That being said, until everyone sees the signed contracts and something officially etched in stone, we’re taking a “Fool me once…” approach to the whole thing.

Interestingly enough, people haven’t gotten hip to the fact that concerns about Pacquiao financial situation are just as futile as discussions about him and Mayweather fighting. For years now we have heard about the dire tax and money problems that the Filipino star is supposedly dealing with, and each time he comes out of it perfectly fine. It’s always some unknown accounting firm or random associate that’s making these claims, never Pacquiao himself.

This week, ABS-CBN reported this regarding Pacquiao’s money drama:

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.

Pacquiao rose to superstardom by beating some of the biggest names in boxing including Oscar de la Hoya, Miguel Cotto, Ricky Hatton, Marco Antonio Barrera and Erik Morales.

He earned millions of dollars through those victories and became one of the top paid boxers in the industry.

Forbes Magazine even listed Pacquiao as the 14th highest paid athlete this year with estimated earnings $34 million from boxing purses and endorsement deals.

However, the boxer doesn’t seem to know how to manage his riches, as he is known to be very generous especially to the poor, according to Salud.

“Daghan man sab gud na siyang gitaba­ngan, dili man na siya kahibalo mobalibad (He helped a lot of people, and he didn’t know how to refuse),” said Salud.

Right.

Here’s a protip for one and all: Until Pacquiao actually shows up in bankruptcy court, or until you see him in a pawn shop wearing nothing but a bathrobe and trying to sell his wedding ring for $25, just assume that he’s doing okay financially, because he probably is.