Even after he hangs up his gloves, Manny Pacquiao can look forward to a golden retirement.
The boxing superstar on Wednesday signed a “lifetime” business partnership with the food and beverage conglomerate San Miguel Corp.
No details of the deal were disclosed in the press briefing at the San Miguel headquarters in Pasig City, where the agreement was announced.
But sources said among the contract’s provisions was for the 27-year-old Pacquiao to get P1.5 million annually for 10 straight years once he retires.
“That’s P1.5 million a year for 10 years. Manny will start getting his ‘pension’ when he decides to hang up his gloves,” the source, who requested anonymity, said.
The insider added that San Miguel has also provided Pacquiao with a life insurance of P100 million.
With his huge global and nationwide popularity, the boxer, who earlier endorsed Ginebra San Miguel and Purefoods, will pitch the company’s other products and is scheduled to tour the country and the Asia-Pacific region as San Miguel’s premier endorser.
In return, he will be given franchises to the long line of the company’s consumer items and corporate sponsorship for all of his business ventures as an athlete, singer and performer.
To cite the deal’s huge income potential, Ramon Ang, San Miguel president and chief operating officer, disclosed that “if Manny is able to sell 20 million cases of beer a year, that’s P20 million for him. He can even earn more if he works harder.”
“Malaki ’yon ! [That’s big!],” Pacquiao exclaimed when informed of the workings of his agreement.
“This agreement is in appreciation of an excellent athlete who deserves recognition and reward for doing our country proud and putting the Philippines back on the world map,” Ang said.
Part of the package will also have the company giving marketing and distribution support for Pacquiao’s “MP” product lines.
A press statement said “San Miguel will support Pacquiao’s next international matches . . . and produce boxing clinic videos to promote boxing as a sport.”
“We really cannot quantify how much this deal will cost us. Our marketing people are still working it out,” Robert Non, the company’s chief for sports operations, said.
Looking enviously on the sidelines during the briefing was promising junior featherweight Junrex Jaca, the prot?g? of Cebu boxing manager Rex “Wakee” Salud, one of Pacquiao’s advisers who attended the briefing.
“Balang araw, magiging ganyan din ako. [Someday I’ll be like that],” said Jaca, 22, a southpaw like Pacquiao.
“This is for my family and kids. I will have something to leave them,” said Pacquiao, who looked unruffled by reports that a woman is claiming she has a two-year-old son by him.
