| |
|
PACQUIAO TO SETTLE $1 MILLION CASE WITH ELORDE
By Salven L. Lagumbay
PhilBoxing.com
Fri, 24 Feb 2006
Rather than face the prospect of paying up to $1 Million (roughly 52 Million pesos) to his former manager and business manager, superstar Manny Pacquiao has softened up on his stance and has indicated that he is willing to cough up an agreed amount than "be hostaged" by what looks like a major hump to his September rematch with Mexican icon Erik Morales.
Earlier, Pacquiao's former manager Martin Elorde and former business manager Sydney Jay Hall had lodged a case against Murad Muhammad, Rod Nazario, Roberto Nazario and Philippine Boxing LLC at the Superior Court of the State of California, County of San Mateo, alleging that the defendants had violated the Muhammad Ali Boxing Reform Act by not observing proper tranparency in the business dealings involving Pacquiao's fights in the United States.
Later, however, the case was amended to include Pacquiao as a nominal defendant to the case.
Rex "Wakee" Salud, an associate of the boxing superstar, had told this writer that Elorde's claim was anchored on the fact that when Pacquiao signed the contract for his first bout with Erik Morales, Elorde was still the legal manager of Pacquiao at that time and Hall was still the business agent, although their contracts had already lapsed by the time they fought in Las Vegas.
"Originally, they wanted One Million Dollars as the amount that Manny should pay, although Shelly Finkel was able to bring down the amount to $425,000. But still, that's a big amount in Philippine money," Salud stressed.
"Manny is really hurt by this latest development. He knows from his heart that it is not him who had done injustice to Marty and Sydney. But then, he can't do anything but to save his career. His upcoming rubbermatch with Morales will surely be put on hold if he doesn't pay up," Salud added.
Pacquiao was in St. Bernard, Southern Leyte yesterday to distribute financial assistance to the victims to the recent landslide that hit the area.
Click here to view a list of other articles written by Salven L. Lagumbay.
Recent PhilBoxing.com In-House articles:
Remembering Mr. Elorde: Still the Gold Standard
By Emmanuel Rivera, RRT, , Wed, 25 Mar 2026House of Representatives say yes to the Boxing Revitalization Act and it is now sent to the Senate
By Gabriel F. Cordero, , Wed, 25 Mar 2026Ryan ‘The Polish Prince’ Kielczweski To return after 4-year layoff to fight at home on Granite Chin’s ‘Rumble at the Rink II’ card
, Wed, 25 Mar 2026Ellaine Summer Abanco wins silver medal on tiebreak
By Marlon Bernardino, , Wed, 25 Mar 2026Catubig, McDowell win in DC Athletic 4
By Lito delos Reyes, , Wed, 25 Mar 2026Team Juna wins first competition in IRONMAN 70.3 Davao
By Kim delos Reyes-Teves, , Wed, 25 Mar 2026Round 12: Without Promoters there is no Boxing
By Mauricio Sulaimán, , Wed, 25 Mar 2026Mexican female IBF Champion Irma Garcia to defend on April 5 in England
By Gabriel F. Cordero, , Wed, 25 Mar 202614-0 super middleweight prospect Tommy ‘The Governor’ Hyde to headline April 18th at home in Cork, Ireland
, Wed, 25 Mar 2026MMA legend Jon Jones joins IBA Bare Knuckle as global ambassador
, Wed, 25 Mar 2026GOLDEN BOY SIGNS NEW EXCLUSIVE MULTI-YEAR PARTNERSHIP EXTENSION WITH DAZN
, Wed, 25 Mar 2026“The Takeover” Teofimo Lopez Confirmed for Ninth Annual Box Fan Expo, During Cinco De Mayo Weekend, Saturday May 2, in Las Vegas
, Wed, 25 Mar 2026Boxlab Promotions Fighters Shine with Statement Victories in Orlando
, Tue, 24 Mar 2026Red Owl Boxing Presents Box Fest XVII on Friday, April 3rd at The Archer Music Hall in Allentown, PA and LIVE on DAZN
, Tue, 24 Mar 2026Boxing world fans waiting Isis Sio prompty recovery; Team Isis Sio statement
By Gabriel F. Cordero, , Tue, 24 Mar 2026National Master Nika Juris Nicolas rules National Youth & Schools Chess Championships
, Tue, 24 Mar 2026SD FIGHT NIGHT: FAMILY BUSINESS DOUBLE MAIN EVENTS SET AS JULIUS “JUJU” BALLO SQAURES OFF AGAINST ROMAN REYES AT FRONTWAVE ARENA ON SATURDAY, APRIL 18, 2026
, Mon, 23 Mar 2026"I'M A MAN OF MY WORD": GEORGE LIDDARD COMPLETES MATCHROOM BRENTWOOD HALF MARATHON FOR CHARITY – HOURS AFTER DENNY WIN
, Mon, 23 Mar 2026Lester Martinez Wins WBC Interim World Super Middleweight Championship with Unanimous Decision over Immanuwel Aleem
, Sun, 22 Mar 2026IBF Pan Pacific champion Vince Paras set to face unbeaten OPBF champion Aoi Yokoyama in Kyrgyzstan
, Sun, 22 Mar 2026King James sets NBA all-time record for most games played
By Gabriel F. Cordero, , Sun, 22 Mar 2026Loaded boxing schedule
By Joaquin Henson, , Sun, 22 Mar 2026WEIGHTS, IMAGES, RUNNING ORDER AND THE LAST WORDS AHEAD OF ADAMES VS. WILLIAMS IN ORLANDO
, Sat, 21 Mar 2026COPPER BOX ARENA FIGHT NIGHT: WEIGH-IN RESULTS AND RUNNING ORDER CONFIRMED AS LIDDARD AND DENNY FACE-OFF FOR FINAL TIME
, Sat, 21 Mar 2026Weights From ‘Martinez vs. Aleem’ Event from the NOS Event Center in San Bernardino and Broadcast live on ProBoxTV
, Sat, 21 Mar 2026 |
|
|
|
|
|
