From Rags to Riches; Manny Pacquiao to Rags Again?

Sarangani, Philippines. Former renowned as World Champion and now Congressman of Sarangani Manny “Pacman” Paquiao is being faced with quite another battle, financial problems.

Pacman became well known after winning over other boxing stars such as Oscar dela Hoya, Erik Morales, Miguel Cotto, Marco Antonio Barrera, Ricky Hatton. Some fights were won on a knockout basis. Not only Pacman gained popularity, he also earned from these fights. He earned from the fight per se, pay per views, and loads of endorsements. He was one of the highest paid in the industry and in the sports world.

However, these alleged wealth are going back to pennies. Some of Manny Pacquiao’s confidantes are claiming that the former world champion does not only lose some of his money but almost all of it. This was the generalization since the news about selling his Los Angeles Mansion came out.

This five – bedroom Mediterreanean Style Mansion was bought in 2009, and now on sale. This mansion was featured in “Cribs”.

The said bankruptcy was because of financial abuse brought by various factors such as the campaign costs he incurred and also of his wife Jinkee, and massive car collections. Also, he helped a lot of people to the extent that he cannot say “no”. He kept on disbursing money even when he lost from a fight with Maquez. This cost Manny Pacquiao not only loads of endorsements but also popularity. It was such a big turn around of events that he was encouraged by most sports analysts to retire. At least, if he retires now, it may seem as a graceful exit, they said.

 

But Pacman does not seem to mind, this coming November he will be fighting Brandon Rios in Macau. Nonetheless, boxing analysts are in doubt of this game. Since Pacman is very eager about this fight, it is alleged to be his last card. Win or lose, he must retire.

 

 

by: m.valdez

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