Sports

More Money Problems? Accounting Firm Sues Manny Pacquiao

| by Alex Groberman

In the ring, Manny Pacquiao is bulletproof – he simply can’t be touched. Outside of it, though, as we’ve seen on numerous occasions, the Filipino champion is very, very human.

According to a recent report published by FightHype.com, Pacquiao is reportedly getting sued by his former accounting firm for refusing to pay them for services rendered.

The company in question, VisionQwest, was in the headlines not too long ago for being fired by Pacquiao for some questionable reasons. Some reports have indicated that they stumbled upon findings that they were unsure of what to do with and, subsequently were terminated for bringing them up.

At one point, VisionQwest was entirely responsible for all of Pacquiao financial examinations as they related to business and personal accounts.

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"Pacquiao himself was delivered the paperwork yesterday during a break in his training as he continues to prepare for his November 12 showdown with Juan Manuel Marquez," the report noted.

This is not the first time Pacquiao’s finances have come under public scrutiny.

Earlier this year, many wondered why after bringing in around $384 million in PPV totals prior to his bout versus Shane Mosley, Pacquiao was worth about $26 million. The Filipino champion brushed the concerns aside when pressed on the matter, though, and Bob Arum similarly disregarded all questions on the subject.

"They say that, by far, he's the richest Congressman in the country," Arum told BoxingScene. "Remember, he's got a lot of real estate also. So I don't know how they account for all that or if it is understated. I would estimate Manny's net worth to be more, a lot more."

It will be interesting to see how this story develops from here on out. Usually, where there’s smoke there’s fire. Pacquiao has now gone through multiple accounting firms with oddities being uncovered at seemingly every turn.

Maybe all of these firms are just wrong in the way they do their jobs and Pacquiao is the innocent victim of their misguided way of working – or maybe something is a little off kilter with the champ’s money.

Needless to say, Pacquiao will have no problem generating funds over the next few years. He’s the biggest draw in boxing and, as such, will have plenty of pay days to cash in on. What’s far more interesting is why he’s consistently having these problems.

We’ll probably find out in due time.