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dakog_itlog

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Wakee: PACQUIAO HAS NO MORE MONEY
« on: August 23, 2013, 09:46:03 AM »
HOW much money does Manny Pacquiao have?

Zero, if boxing promoter and Pacquiao buddy Wakee Salud is to be believed. Interviewed by Sun.Star Superbalita Cebu sports reporter Erwin Lirazan yesterday, Salud said Pacquiao has been so generous with his friends and kin that he has unwittingly depleted his finances.

Lirazan came across a story on ESPN about Pacquiao's fight against Brandon Rios on Nov. 24 being motivated by money. The source of the story, American journalist Ted Lerner, had said that Pacquiao has lost the zeal to fight and is just boxing solely for money.

"After years of spending like there was no tomorrow, it appears that tomorrow has come, and Manny is in need of cash," Lerner said on ESPN.

And so Lirazan asked Salud about the ESPN story. Salud, in all candidness, or perhaps with some dramatic flair, replied, "Di lang kay nahurothurot, hurot gyud!"

So Pacquiao's money is not just "somewhat gone but totally gone." I'm not certain how privy Salud is to Pacquiao's finances but the two of them maintain a bromantic friendship. Salud has always been by the side of Pacquiao in and out of the ring. The two have taken the same path to vices and politics.

But whether Salud has become Bible-quoting like Pacquiao, Superbalita Cebu sports editor Jun Migallen has this to say of the disputable Cordova resident, "Wa man ko kabantay nga naay nausab."

According to therichest.com, Pacquiao has a net worth of $85 million, sourced from his fights and investments. Last year alone, he earned $67 million.

That's a lot of money. That's P3.7 billion in net worth, and P2.9 billion in earnings in 2012. How does one spend all of P2.9 billion in so short a time? My spending habits are not anywhere near Janet Napoles's, and I still ponder upon my own question.

Pacquiao is very generous with his money, Salud said. The People's Champ doles money to everyone; he can't say no to anyone who asks for money. And he does not keep track of where it goes.

Lerner, the journalist quoted on ESPN, said Pacquiao has been contributing generously to his new faith.

Not having money is not alien to Pacquiao. He is used to being penniless when he has no fight, "Hurot man gani ang iyang kwarta katong sige siya'g away, karon pa kaha nga usa ka tuig una siya moaway og balik," Salud said.

Plus, he had spent so much on his congressional campaign last May, Salud told Lirazan.

Salud, whose attempt to run for mayor in Cordova, Cebu got thwarted in the voter's registration phase, would have had his friend Pacquiao as his biggest campaign donor.

Penniless is relative. By Pacquiao's financial standards, having only $1 million is penniless. By our standards, having no money at all is penniless.

Pacquiao had lost in his last two fights, but the losses still earned him $67 million. He last fought in December, and it was by a heartbreaking knockout from Juan Manuel Marquez.

"Manny has clearly lost the zeal for boxing that he once had. Before he used to fight for the love of fighting and the money seemed secondary. Now he is obviously fighting for only one reason: money," Lerner said on ESPN.

Pacquiao is selling his mansion in Hancock Park, Los Angeles for $2.7 million. He bought it in 2009 for $2.17 million. Whether he needs the money or finds no use for it anymore is anyone's guess.

Whether Salud was being truthful or simply being dramatic about Pacquiao's finances, is for us to see in the coming months. Salud was with Pacquiao last Sunday when the congressman of Saranggani opened the MP Boxing Gym in Davao City.

Pacquiao may not have the cash to readily give to anyone who asks for it but he has his investments. It's probably just $1 million cash Manny Pacquiao has now.

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dakog_itlog

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Re: Wakee: PACQUIAO HAS NO MORE MONEY
« Reply #1 on: August 23, 2013, 04:22:58 PM »
http://forum.philboxing.com/viewtopic.php?f=1&t=238574

MANILA, Philippines – Is Manny Pacquiao, whose rags-to-riches story has captured the imagination of fight fans around the globe, going bankrupt?

Rex “Wakee” Salud, a long-time confidante of the Filipino boxing superstar, revealed Pacquiao’s financial status in an interview with Sun Star Cebu’s Erwin Lirazan.

"Di lang kay nahurothurot, hurot gyud! (He did not just lose his money, he lost all of it)," said Salud, who has known Pacquiao since he started boxing in the mid-'90s.

Pacquiao rose to superstardom by beating some of the biggest names in boxing including Oscar de la Hoya, Miguel Cotto, Ricky Hatton, Marco Antonio Barrera and Erik Morales.

He earned millions of dollars through those victories and became one of the top paid boxers in the industry.

Forbes Magazine even listed Pacquiao as the 14th highest paid athlete this year with estimated earnings $34 million from boxing purses and endorsement deals.

However, the boxer doesn’t seem to know how to manage his riches, as he is known to be very generous especially to the poor, according to Salud.

“Daghan man sab gud na siyang gitaba­ngan, dili man na siya kahibalo mobalibad (He helped a lot of people, and he didn’t know how to refuse),” said Salud.

The Filipino boxer is also known for his flamboyant lifestyle as he reportedly owned several mansions in Laguna, General Santos City and Forbes Park, Makati City.

He also owns an extensive collection of expensive cars, including a Ferrari 458 Italia, which he reportedly bought for $309,000 (P13.367 million).

However, some of his biggest expense went to politics.

According to ESPN’s Nigel Collins, Pacquiao spent approximately $8.6 million (around P379 million) in campaign funds for the 2010 and the 2013 elections.

“He spent an estimated $6.6 million on his successful 2010 campaign to become the congressional representative of the district of Sarangani,” Collins said in his ESPN column.

“[His] wife Jinkee and brother Rogelio also ran for office [in 2013], and it cost Pacquiao approximately $2 million to finance the campaigns,” the analyst said.

Salud hinted that Pacquiao is now motivated to fight because of money.

“Unya dugay sab siyang wala makaaway. Hurot man gani ang iyang kuwarta katong sige siya’g away, karon pa kaha nga hapit usa ka tuig una siya moaway og balik (He always ran out of money when he was still actively fighting, even more so when he stopped fighting for almost a year now),” said Salud.

The last time Pacquiao fought was in December 2012 when he lost to Juan Manuel Marquez via a shocking sixth-round knockout.

He had to take a long furlough from boxing because of the way he got knocked out.

Just recently, ABS-CBN North America News Bureau’s Steve Angeles reported that Pacquiao is selling off his Los Angeles mansion for $2.7 million.

The boxer bought the five-bedroom Mediterranean style home for $2.17 million in 2009.

Salud said the Brandon Rios fight this November will be Pacquiao’s last chance. If he fails again, then it’s over for the Filipino boxer, said the veteran boxing promoter.

“Last card na kini ni Manny, kon mapilde siya angay na siyang mo-retire (This is Pacquiao’s last card. If he loses, then I think it’s time to retire),” he said.

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Re: Wakee: PACQUIAO HAS NO MORE MONEY
« Reply #2 on: August 24, 2013, 10:56:23 AM »
Paetz. Smol milyonir na lang diay... :P
...than to speak out and remove all doubt." - Abraham Lincoln



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