Manny Pacquiao is having money problems again, and that’s great news for anyone who wants to see him fight Floyd Mayweather Jr.
Anyone who has followed Pacquiao throughout his career knows that various financial issues come with the territory. The seriousness of these issues varies, mostly depending on who within his camp you talk to, but the specter of fiscal difficulties always looms. The one thing that each and every report on the Filipino champ’s money woes have in common, though, is that they are tax-related.
Athletes running into cash jams is nothing out of the ordinary. However, usually the problems are a byproduct of frivolous spending. Pacquiao’s issues aren’t that. His problems are always tax-related. And tax-related problems come from mismanagement of funds, not spending carelessness. You will recall, this isn’t the first time Pacquiao has had a public battle over money management. Just a few years ago, he became embroiled in a legal battle with his old accounting firm, too.
According to ABS-CBN television, Pacquiao’s funds have been frozen while authorities investigate what's what. Moreover, Pacquiao reportedly told them that ‘most’ of his dough was kept in Filipino bank accounts.
What does that mean? It means that Floyd Mayweather Jr., a guy who had his eyes on a possible 2014 showdown versus Pacquiao, just gained a lot of leverage.
Mayweather, 36, needs a big name opponent for his first fight of 2014. Aside from Amir Khan, there are literally no other marketable challengers. Pacquiao, 34, is being harassed by his government over taxes. Said harassment is limiting his financial flexibility.
You don’t have to be a math whiz to know that 2+2=4.
Do Pacquiao’s latest financial issues guarantee that he will fight Mayweather? Of course not. Do they increase the odds? Absolutely.