Freddie Roach, the longtime coach of Filipino boxing champ and Sarangani Rep. Manny Pacquiao, shocked a lot of people when he allegedly said downright that the world boxing champion is broke. Yup, as in broke, wala nay kuwarta, no more money, wala nang pera.
Freddie Roach’s statement baffled a lot of people and not a few expressed their doubts. After all, didn’t Manny Pacquiao just buy a multi-million mansion at Forbes Park? Doesn’t he give millions away in his GMA 7 show “Manny Many Prizes”? Doesn’t he and wife Jinkee Pacquiao have a lot of businesses not only in General Santos City, Sarangani, Davao City but even in Manila as well?
Is it really possible that Manny Pacquiao, whose latest guaranteed purse from the bout with Shane Mosley last May 2011 was a staggering US 20 Million, is broke? Could it really be true that the Philippines’ “Ninong Manny” no longer has money?
According to Freddie Roach, Pacquiao made him what he is today. “Pacquiao made me,” he said…BUT:
“He’s broke because of that and all the people he flies around to his fights. 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.”
Now, loyal Pacquiao fans may just shrug their shoulders and say that Roach’s statements are merely opinions. They may say that Coach Freddie Roach does not know a thing about Team Pacquiao’s financial dealings.
But here’s an interesting fact: Manny Pacquiao has reportedly unilaterally terminated the services of VisionQwest Resource Group.
According to an article posted on Philboxing.com:
Pacquiao hired the services of VisionQuest to ensure that all of his accounting, both personal and business, is in order amidst suspected short changing in his purse in his previous fights as well as commercial endorsements and confusion on his appearances in concerts, the last affecting his image even with the Filipino communities in the U.S.
Does the cancellation of his contract with VisionQwest spell something terribly wrong going on in Manny Pacquiao’s camp?
There are also a lot of speculations about Manny Pacquiao’s alleged casino gambling woes. Some talks even say that the boxing champ and congressman of Sarangani spends as much as Php 10 Million a night at casinos. There are also allegations about Jinkee Pacquiao spending too much on shopping.
Well, all of these still remain as allegations and while it’s true that the Pacquiaos have all the right to spend their money however they choose to, this does not strike a good image especially to young fans who want to follow the world boxing champion’s footsteps.
I hope Manny Pacquiao will learn from the sad stories of boxers who have experienced glory, fame and wealth but have gone wayward.
A lot of Mindanaoans look up to you, Manny. Please don’t disappoint us.
* Photo of Manny Pacquiao courtesy of Isaac Brekken/AP
Tsk. I just hope this will be cleared. I may not be a fan of his as a politician but he will always be the People’s Champ. He’s a good man with people taking advantage of his wealth around him. Tsk.
I agree with you! I also wish he becomes more hands-on sa financial dealings niya. He should not just leave it all up to the people around him.