$5.1m Fine Handed to Filipino Boxing Legend Manny Pacquiao
Manny Pacquiao has been ordered by a California court to pay $5.1 million to his former promoter Paradigm Sports for breach of contract. The outcome of this lawsuit has been confirmed by a California court after a 2 year legal battle between Manny Pacquiao and Paradigm Sports. The breach of contract committed by Pacquiao is in relation to a fight deal he signed against Errol Spence, however, the fight never took place and the promoter was left out of pocket on their advance payment to the fighter.
The sport of boxing has been well and truly conquered by Manny Pacquiao, this financial setback will be frustrating for the Filipino who has a wide-range of career interests from business to politics.
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The trial to decide the outcome of this dispute has been ongoing since June 2021. It relates to a series of fights that the Filipino boxing legend agreed to participate in against Mikey Garcia and Errol Spence, both of which were being promoted by Paradigm Sports. The contracts signed by Pacquiao ensured that the promoters had ample time to promote the fights and build anticipation.
Ultimately, there were problems in the buildup, and following a period of camp training prior to the Errol Spence bout, the American suffered an injury and was forced to pull out of the event. At the last minute another fighter, Yordenis Ugas was brought in to fight Pacquiao who he defeated, serving the Filipino the 8th loss in his career.
Pacquiao was able to receive an advance payment of $3.3m from Paradigm Sports for signing the contracts for this fight, however the promoter raised issues with the deal after the situation of the fighters changed. The event that was eventually held did not live up to the valuation placed on the bout, and following a series of contractual breaches Manny Pacquiao has been successfully sued to relinquish the initial advance payment he received, as well as attorney fees and payment for damages related to Paradigm Sports legal challenge. The total fine handed to Pacquiao is in the region of $5.1m following the court ruling in California.
Still One of the All Time Greats
Despite this recent controversy involving Manny Pacquiao there is absolutely no doubt that he is still one of boxing’s all time greats. Having fought some of the biggest names in the game, including Floyd Mayweather Jr., Oscar De La Hoya, Miguel Cotto, and many more. The Filipino is known for his terrifying hand-speed, and has mastered the sport over a career spanning several decades, beginning his professional boxing career aged 16 in 1995, and winning his first world title aged 19 in 1998.
Manny Pacquiao has become nothing short of a cultural and political icon too. In 2010, he was elected to the Philippine House of Representatives, and in 2016, he was elected to the Philippine Senate. This shows that Pacquiao has not only excelled in the sport of boxing but has also made a name for himself in the political arena.
Outside of boxing and politics, Pacquiao has been involved in several business ventures. He’s dabbled in acting, singing, and endorsing products. He’s also been involved in various philanthropic activities, including donating to charities and building houses for the homeless.
What’s Next for Manny Pacquiao?
Having retired from boxing in 2021, many fans of Manny Pacquiao around the world are following his next steps closely, while the Filipino hasn’t always been particularly vocal about what his future may hold, there are a number of likely scenarios given the recent moves he’s been making.
It’s very likely Pacquiao will lean completely into forging a political career. As one of the most well-known and popular figures in his home country it is very plausible he will pursue political office in the near future, having already shown a dedication to public service through his tenure as in the Philippine Senate and the Philippine House of Representatives.
The other potential path for Pacquiao would be to focus on his business ventures. He has already tried his hand at acting, singing, and product endorsements, but there are of course many other opportunities out there for him to explore. And most interestingly of all, there is the possibility he could return to the ring for one more bout, but with his advanced age it looks increasingly less likely as the months and years go by.
