Forgive the headline. But it is a political story. Manny Pacquiao, the Filipino boxer who so entrances his nation, and who knocked out Ricky Hatton inside two rounds three weeks ago, can spend up to $600,000 US on flying his entourage to Las Vegas for his mega-fights, according to his close adviser Mike Koncz.
Koncz revealed this to me in the build-up to his fight with Hatton. Koncz, and Pacquiao’s other advisers, fear his generosity is often worrying for his future. The boxer gives away large amounts of money to poor people in his country.
Bob Arum, his veteran promoter, says there is a Welfare system in The Philippines.
“It’s called Manny Pacquiao,” said Arum.
Pacquiao, who has political aspirations in The Philippines and who is doted on by politicians, including that nation’s President Gloria Arroyo, is said to be considering running for congress in 2010. Arum believes he will President of The Philippines one day.
Pacquiao’s latest move is investing 1.22 billion pesos ($25.8 million) in a 400-hectare special economic zone, including a cancer treatment clinic, in his hometown, a senior trade official said this week.
Widely regarded as the best pound-for-pound fighter in the world, Pacquiao has been investing in small businesses for some time. But the novel development, which includes medical tourism facilities, an information technology park and a retirement village near General Santos City, was to be funded 60 percent from Pacquiao’s personal funds and 40 percent through bank loans, said Lilia de Lima, head of the Philippine Economic Zone Authority (PEZA).
The Manny Pacquiao Heights Development Corp. (MPHDC) was expected to start operations on the southern island of Mindanao by the first quarter of 2010 after the government approves the plans.
Pacquiao’s group are reportedly already in talks with two foreign-based companies to set up a proposed Philippine International Cancer Centre. They included New York-based Bio City Development Co, a healthcare company that runs cancer centres in Dubai, Hong Kong and Western Europe.
