Some of Manny Pacquiao’s closest friends are worried that the distractions he got rid of by disengaging from New Jersey promoter Murad Muhammad are back to haunt the three-time world boxing champion as he prepares to face Erik Morales in a grudge rematch in Las Vegas on Jan. 21.
Apparently, the distractions are money-related.
A reliable source said while not in training, Manny sleeps late and squanders big bucks on the billiards table and the cockpit. The consolation is he neither drinks nor smokes.
To support his lifestyle, Manny leans on a marketing group to deliver easy money via endorsement contracts. That’s why on the night he left for the US last Friday to promote the Morales rematch, Manny didn’t sleep until the wee hours because he wound up shooting a new TV commercial at 1 a.m.
There are disturbing rumors that Manny continues to lose more than just a bundle in pool halls and cockpits. In a recent derby, Manny paraded six imported cocks he bought in Fresno but only one managed to win over Gov. Chavit Singson’s birds. Someone said Manny lost anywhere between P300,000 and “a few millions” that night.
What about the late evening duel where Manny lost to a hustler in a General Santos City pool salon?
It was already 1 a.m. and Manny still wanted to play on because he was down P250,000. He was scheduled for an early morning jog but didn’t seem to care. Finally, well-meaning friends pulled him out of the billiard hall.
And is it true that he just received a $100,000 cash advance from his next purse? It seems to be a small sum considering his purse for the Morales rematch is $2 Million and he could earn as much as $4 Million more from his share of the pay-per-view receipts, site fee and merchandise sales. But it’s not the amount that matters. Manny must learn how to live within his means and spend judiciously.
There is also talk that Manny’s new marketing group–which has no background in boxing–is dictating what he should and should not do, in terms of prioritizing his daily activities. The group is obviously doing its best to take advantage of Manny’s marketability. No problem with that since Manny earns from the group’s efforts anyway. But his focus on boxing must be unflinching.
Boxing is where Manny makes his living. Without his success in boxing, he wouldn’t be able to endorse products. Boxing is his primary livelihood and it should always be his No. 1 priority, meaning he must be ready to sacrifice and prepare himself 100 percent in the gym for every fight.
The marketing group signed a two-year contract to represent Manny in money-making ventures, mainly commercial endorsements. In exchange, the group receives 20 percent of the gross. A percentage is usually set aside for the broker. It’s possible that Manny gets to take home only 50 to 60 percent of the gross, especially if he has to pay for all the taxes.
Speaking of taxes, Manny still has unsettled obligations with the Bureau of Internal Revenue. He was initially assessed a tax liability of P11 Million. Manny has paid P2 Million so far and was given until last Nov. 4 to clear his account. Luckily, he was allowed an extension.
Incidentally, the marketing group has a legal claim on all of Manny’s endorsement deals. Manny, however, was assured by the group that it will not participate in deals sourced from a third party.
Because Manny is probably the most popular commercial endorser today, he is deluged by offers, often unsolicited. Two huge companies from Mindanao and Cebu, for instance, are tapping Manny on their own, without going through a middleman. Surely, if those deals materialize, the marketing group should not charge its usual 20 percent commission.
The danger is the marketing group is building a cordon sanitaire around Manny to make sure it is in full control of his movements. Maybe, the group is just trying to protect Manny and has his best interests at heart. Let’s hope so.
Meanwhile, in the US front, grumblings were heard from Manny’s camp that someone is taking him for a ride.
A source said one of Manny’s Los Angeles-based friends has been accused of helping himself to the fighter’s bank account. So far, about $5,000 has been confirmed to be missing.
Manny was also reportedly hoodwinked when he gave a US associate a sum of money to fund a $10,000 check he wrote to pay Fresno breeder Joe Sanford for 50 fighting cocks. Manny was incensed when he was later told the check bounced.
The rumor is the accused associate is using Manny’s money to lend to victims at usurious rates. He pockets the interest but I wonder if he’ll ever get back the principal.
One of Manny’s Filipino friends is digging deeper into the financial mess to unveil the culprit. The friend is employed in the sheriff’s office in Los Angeles so he knows the ins and outs of detective work.
Manny recently said he is confident of beating Morales “as long as I don’t have distractions and I am focused.”
But are the distractions really gone? Is he prepared to plunge into serious training–without entertaining any more offers for endorsement contracts–as soon as possible?
Manny confessed to a US writer recently that he’s been “so busy with endorsements, making commercials, recording an album and spending time with my kids.”
Time is running out. Morales began training for Pacquiao two weeks after losing to Raheem so he’s way ahead in the race. He’s exiled at a secluded camp in the high-altitude Otomi mountains north of Mexico City and works out in the Pancho Rosales gym.
Manny must realize–now more than ever–that the time has come to dedicate himself exclusively to boxing and working back into tip- top shape for Morales. Forget the marketing deals for the moment. It’s time to buckle down to work because there’s a fight to be won.
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