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Manny Pacquiao: Money Changes Everything For Career Outlook

Manny Pacquiao is still flying high in the ring, but someday he may be in the Shane Mosley position. (Photo by Chris Trotman/Getty Images)

Even though we haven't talked much about it, it hasn't been the best week or so in Manny Pacquiao news.

Speaking with Ronnie Nathanielsz, Manny Pacquiao very briefly addressed the concerns about his firing of VisionQwest, which opened up a lot of rumors about Pacquiao's financial situation.

BoxingScene/Inquirer asked Pacquiao about reports that he has been gambling heavily and losing a lot of money. His reply, "I just play billiards. If there is anybody who writes nasty stories about me let God take care of them. I won’t file charges against them and I am not angry with them. Let them write and write but there’s a God above and whatever heights I reach its because God wishes it, not me. Let him handle it."

Confronted about a spate of negative stories over his firing of the VisionQwest accounting firm which allegedly discovered some financial discrepancies Pacquiao said "we had a problem and I don’t like what happened. It's difficult to talk about this. But they know the reason why."

The stories have varied and mostly sit in the rumor stage, but the harshest of the concerns about Pacquiao's finances are that he's spending more than he can bring in. Not broke like regular people broke, but broke for Manny Pacquiao.

Star-divide

Freddie Roach told Brin-Jonathan Butler, the fillmmaker who did the Guillermo Rigondeaux documentary, that Pacquiao is "broke" due to his political career and his inability to say no:

One thing that caught me by surprise was when Freddie Roach touched on Manny's political run back in the Philippines. "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."

... Freddie had his suspicions about where all of Pacquiao's generosity will get him, "Of course he'll have to keep fighting. He does now. He won't be able to stop. But it's his life."

Pacquiao, who turns 33 in December, has entered rare air as a sports celebrity in recent years. Not only is he a pay-per-view hit in the United States, but he's popular across the world, and a sports icon in the Philippines the likes of which many of us in different countries can't ever properly comprehend. There, he dwarfs the likes of even Michael Jordan or Tiger Woods in the United States at their peaks.

But greater men than Pacquiao have been undone by poor money handling. For those who aren't wrestling fans, you don't need to be one to appreciate the story of "Nature Boy" Ric Flair, one of the biggest stars in pro wrestling for four decades, considered by many to be the greatest of all-time in his industry, who is now a struggling old man. It has happened, of course, to countless great boxers. It will happen to many of the men we consider great in today's game, and make no mistake, Manny Pacquiao could be one of them.

What's worrisome about all of this is pretty obvious, of course. It's never fun to watch once-great fighters so broke they have to sacrifice their bodies to pay the bills in the twilight years of their professional careers. Remember what Evander Holyfield and Roy Jones Jr used to be? A lot of people have started to forget. Even guys who weren't quite so big in the name brand department, like Joel Casamayor, now continue to fight past their expiration date because they have to do so. There's really no other option. Shane Mosley has looked awful in three straight fights, and yet there's no indication he's going to hang up the gloves. The list could go on and on.

Are we that far off from talking about "the shell of Manny Pacquiao" when his name comes up to be fed to some hungry young fighter? It's a sobering thought in the face of Manny mania. He is, indeed, a great fighter. But he is a fighter, and even further than that, just a man like the rest of us.

It might be wise to take the over when it comes to how many more fights Manny Pacquiao has left in his career.

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That guy is going to end up broke

I don’t like it, but seems like a pretty dead certainty at this point. Smoke/fire. Look for double-digit ill-advised money-chasing comebacks over the coming years.

Most people don't know shit about boxing. At all. Period. - Roger Mayweather

by The Kittitas Kid on Aug 30, 2011 8:06 PM EDT reply actions  

I can only hope you are wrong, but the evidence and history don’t make me very optimistic. If you look at the all-time greats of our sport, very few managed to retire with enough wealth to never fight again. Most end up poor or even worse poor and stricken with dementia from a career that went too long, e.g. Joe Louis, Sugar Ray Robinson, Henry Armstrong, and many more.

The difference with Manny is at least he has a job to fall back on. Very few other fighters have a safety net like Manny. He’s a cultural icon, a congressman, and a pop star (don’t laugh). That at least gives me hope he won’t end up destitute like a lot of other great champions.

by Sammlung on Aug 30, 2011 9:12 PM EDT up reply actions  

He’s a cultural icon, a congressman, and a pop star (don’t laugh).

Does he maintain any of this forever? Nobody else does.

Bad Left Hook
"To the town of Agua Fria rode a stranger one fine day..."

by Scott Christ on Aug 30, 2011 9:14 PM EDT up reply actions  

All of it? No. But I think he has become such a legendary and revered figure in the Philippines he’ll never be absolutely destitute, like vagrant destitute. We’ve never had an athlete in America quite on his level relative to his home country in terms of reverence and popularity.

by Sammlung on Aug 30, 2011 9:19 PM EDT up reply actions  

The closest we had to Pacqiuao was probably Joe Louis, who I mentioned above got a raw deal later in life, which is despicable. But even he was never quite at Pacqiuao’s level (a lot of that had to do with his color, an impenetrable barrier).

by Sammlung on Aug 30, 2011 9:22 PM EDT up reply actions  

But I think he has become such a legendary and revered figure in the Philippines he’ll never be absolutely destitute, like vagrant destitute.

Arguello probably thought that about Nicaragua. And Duran probably thought it about Panama. But neither of those guys had or are having very comfortable retirements.

Most people don't know shit about boxing. At all. Period. - Roger Mayweather

by The Kittitas Kid on Aug 31, 2011 9:59 AM EDT up reply actions  

Silver lining

But it might be much later than we wanted it, and might be worse than it never happening at all.

Most people don't know shit about boxing. At all. Period. - Roger Mayweather

by The Kittitas Kid on Aug 31, 2011 9:59 AM EDT up reply actions  

Not a bad scenario by any stretch.

by cyke on Aug 31, 2011 11:26 AM EDT up reply actions  

I’m going to have nightmares about Manny 8 years from now getting beat up by JCC Jr. Tell me they’ll never be the same weight.

That Roach link is worth a click for the quote about Tyson- “the greatest boxing historian that ever lived.”

by Tysox88 on Aug 30, 2011 9:48 PM EDT via mobile reply actions  

as a side note

I’ve always thought Tyson knew the sport inside and out and have advocated him as potentially a great commentator. However HBO or Showtime would never put him ringside due to the baggage of being Mike Tyson, shame that.

by Kid Gruesome on Aug 31, 2011 2:15 AM EDT up reply actions  

Mike Tyson is an encyclopedia. It’s amazing.

Bad Left Hook
"To the town of Agua Fria rode a stranger one fine day..."

by Scott Christ on Aug 31, 2011 3:31 AM EDT up reply actions  

Ya, I was always amazed at his immense boxing knowledge. It’s pretty incredible considering he doesn’t seem like the studious type. Might not be right to say, but Mike always gives off the I might break your face vibe than the “I’m well versed in the history of pugilism ladies and gentlemen.” Mike’s great and a bit…touched.

by JaVon Rice on Aug 31, 2011 12:52 PM EDT up reply actions  

Pac will never be broke.

To all people who worry about Pac, don’t worry that much. Even though he gives a lot, he still have a lot of money in the bank. Plus he has businesses that are profitable, but not on par with several taipans/tycoons. And also please note that he have millions of dollars which if you convert them to Philippine pesos is about a billion pesos. You are considered rich in the Philippines if you have a net worth of 5-10 million pesos. Manny Pacquiao is filthy rich by Philippine standards. I think his only problem is that he doesn’t have the business acumen to become a business tycoon – imagine a person who have a billion of pesos of capital and and not using it to generate more money.

Plus he is a congressman – this alone makes him part of the political elite, which translates to power, which can be translated to money.

And, he doesn’t mind going back to being poor either. In one of the 24/7 episodes, he shares his thoughts about giving away most his money. He said that money is just temporary, what matters is what you’ve done in this lifetime so that you can secure an entry in heaven. He doesn’t care if he becomes poor as long as he helped a lot of people.

by Leo Azura Jr. on Aug 30, 2011 9:50 PM EDT reply actions  

I’m sure money means a little something. Greed is powerful.

by FrontHandMan on Aug 30, 2011 10:18 PM EDT up reply actions  

Plus he is a congressman – this alone makes him part of the political elite, which translates to power, which can be translated to money.

Arguello was mayor of Managua. Then he killed himself. When they no longer need yourcelebrity, they discard you.

And there is no pile of money large enough that you can’t find the bottom of it with bad habits, regardless of international exchange rates. Unfortunately, Manny seems to have the same attitude you do. It’s infinite. But dismissing an independent auditing firm because they told you something you don’t want to hear is just blood in the water for all the other sharks out there.

Most people don't know shit about boxing. At all. Period. - Roger Mayweather

by The Kittitas Kid on Aug 31, 2011 10:06 AM EDT up reply actions  

But EVERYONE thinks the same way and they all go broke. How is Emmanuel Pacquiao any different? The Philippines’ political elite are amongst the most corrupt. Either Manny falls in line or he is removed from it (Or removes himself). His cultural iconography will fade as it has for many stars in third world countries. No matter what he says, the man has a gambling issue. I wish him well, but I think being a Congressman will eventually do him in.

by JaVon Rice on Aug 31, 2011 12:55 PM EDT up reply actions  

I’m betting that whatever money mangement issues he has…and I don’t doubt for one minute that he, like so many athletes, does in fact have them….he has values and assets that are income-producing for years to come. With or without boxing.

Think George Foreman. Manny is a brand and a damn good one. With a great public image and little in the way of PR baggage, he may not marry and promote the next ‘grilling oven’ but he is sure to grace many a product for fees well into and after his retirement.

"Silence is golden when you can't think of a good answer"
---- Muhammed Ali

by pakinpower on Aug 31, 2011 12:11 AM EDT reply actions  

I hope he does get a Foreman grill type deal so he could be set for life.

The guy deserves that 100% for all the wars he put on. But honestly the only place he could do that after his career is over is on the Philippine market. Will they support there guy after he retires, or will they “forget” him.

by Mohammedini Hussein on Aug 31, 2011 1:18 AM EDT up reply actions  

It’s becoming quite clear he doesn’t have the business accumen.

So it doesn’t matter if he has power or a great brand, without a solid business team or business brain he will continue to lose money.

by properdave on Aug 31, 2011 3:19 AM EDT up reply actions   1 recs

Fiscal discipline eludes many...

Including Wall Street and Government.
Et tu, Emanuel?

"Silence is golden when you can't think of a good answer"
---- Muhammed Ali

by pakinpower on Aug 31, 2011 4:45 AM EDT up reply actions  

Not all of Wall Street and the Government are inept, but too many are.

Team pacquiao only needs one inept person for it to falter and sadly that one person is Manny.

Perhaps he could line up a stint on X Factor

by properdave on Aug 31, 2011 8:04 AM EDT up reply actions   1 recs

Or one to right it.

Todd duBouf was the one to intercede on his behalf and re-organize his global markting campaign with great results.

I think Manny will be just fine. Maybe not oligarch rich. But rich nevertheless.

"Silence is golden when you can't think of a good answer"
---- Muhammed Ali

by pakinpower on Aug 31, 2011 8:42 PM EDT up reply actions  

+1

No business sense = no income. Plain and simple.

by erod on Aug 31, 2011 11:02 AM EDT up reply actions  

No. No discipline plus no savings equal no money.

You can have little or no business sense and still be a money making machine, It is not what you make…its what you keep.

"Silence is golden when you can't think of a good answer"
---- Muhammed Ali

by pakinpower on Aug 31, 2011 8:43 PM EDT up reply actions  

They may never forget him but they my not reward him either. My instinct is they do. Reward him that is.

And don’t forget…..he can, eh…not exactly sing, but he can ‘record’!!!!

"Silence is golden when you can't think of a good answer"
---- Muhammed Ali

by pakinpower on Aug 31, 2011 4:48 AM EDT up reply actions  

My instinct is they do. Reward him that is

Again, Arguello and Duran. Lots of these guys from small countries think those countries will never forget the glory the fighter won for the country. Than they do.

Watch them pass the plate in Cardiff when Calzaghe runs through his cash and you’ll see what I mean.

Most people don't know shit about boxing. At all. Period. - Roger Mayweather

by The Kittitas Kid on Aug 31, 2011 10:10 AM EDT up reply actions  

Your analogies are way way off on this one, KK

Arguello never made a fortune. Moreover, he lost everthing after leaving Nicaragua to The Sandinista government. He was an ex-pat repatriated after a war in Nicaragua won by a Marxist governement. Hardly the stuff of a capitalist future.

Duran was loved then dismissed by an embarrassed Panamanian fan base after no Mas. he re-won much of the respect but money is another thing.

Neither guy ever had anything close to Pacquiao’s rnet worth and/or earning potential in a global marketplace …..and in an Asian country with a growth rate btter than ours.

different men. different times .

"Silence is golden when you can't think of a good answer"
---- Muhammed Ali

by pakinpower on Aug 31, 2011 8:36 PM EDT up reply actions  

No analogy is perfect

But all glory is fleeting. Gather ye rosebuds while ye may. Ant/grasshopper. What else can I throw in here?

Most people don't know shit about boxing. At all. Period. - Roger Mayweather

by The Kittitas Kid on Sep 1, 2011 11:53 AM EDT up reply actions  

After Ant/Grasshopper.

Not much. pc

"Silence is golden when you can't think of a good answer"
---- Muhammed Ali

by pakinpower on Sep 1, 2011 11:16 PM EDT up reply actions  

Aesop really nailed that one.

Most people don't know shit about boxing. At all. Period. - Roger Mayweather

by The Kittitas Kid on Sep 2, 2011 12:02 PM EDT up reply actions  

Think George Foreman.

There are a lot more Joe Louises than George Foremans.

Most people don't know shit about boxing. At all. Period. - Roger Mayweather

by The Kittitas Kid on Aug 31, 2011 10:08 AM EDT up reply actions  

There are no boxers since Ali that made the cover of TIME. And there are none with his global marketing potential since Mike Tyson in boxing.

And Manny is no Mike Tyson.

Yes, there is a chance that with gross mismanagment Manny could lose his fortune but I think not.

"Silence is golden when you can't think of a good answer"
---- Muhammed Ali

by pakinpower on Aug 31, 2011 8:38 PM EDT up reply actions  

There are no boxers since Ali that made the cover of TIME.

I didn’t realize that appearance carried cash value.

Most people don't know shit about boxing. At all. Period. - Roger Mayweather

by The Kittitas Kid on Sep 1, 2011 11:53 AM EDT up reply actions  

He's too nice

I was thinking exactly what Roach said…he’s too damn nice. Doesn’t know when to say no. Sure money is temporary and he wants to help as many people as possible but he needs to think about the future at some point. Think about his kids, and their kids, and their kids, etc. Doesn’t he want them set for life? I know I would. Let’s just hope he doesn’t end up broke singing “Sometimes When We Touch” at some shitty casino somewhere for cash.

by erod on Aug 31, 2011 11:04 AM EDT reply actions  

MC Hammer

Manny is sounding more and more like MC Hammer. MC Hammer use to give tons of money away to poor people which isn’t necessarily bad but it turned out horrible for Hammer.

by JaVon Rice on Aug 31, 2011 12:58 PM EDT up reply actions  

WOW…this guy says. " If there is anybody who writes nasty stories about me let God take care of them. I won’t file charges against them and I am not angry with them."

Now explain the reasoning behind defamation suit on Floyd.

He is F-ing Hypocrit!!!

by Jeride Beach on Aug 31, 2011 5:42 PM EDT reply actions  

In God We Trust

All others pay cash.

Something like that?

Most people don't know shit about boxing. At all. Period. - Roger Mayweather

by The Kittitas Kid on Aug 31, 2011 5:58 PM EDT up reply actions  

Floyd didn't write them

He said them.

Plus stories about financial mismanagement are not the same as accusations unfounded that impugn character.

Big difference.

"Silence is golden when you can't think of a good answer"
---- Muhammed Ali

by pakinpower on Aug 31, 2011 8:40 PM EDT up reply actions  

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