P16 million lang pala kinita ni Pacman

[EL Chicane]

Pacquiao earnings 'only' P16M
http://www.abs-cbnnews.com/storypage.aspx?StoryId=28941


Here’s news for the fans and taxmen now waiting outside Manny Pacquiao’s house in General Santos City: Don’t expect a windfall from the country’s boxing icon.

That’s because out of the $2-million (P104 million) purse he earned for stopping Erik Morales in their rematch two weeks ago in Las Vegas, "PacMan" took home a net of $313,446—"only" P16.3 million—after deductions from taxes in the United States and the fees of his management team, Sports Times learned Thursday from Internet reports.

The most comprehensive report, written by Thomas Hauser for secondsout.com, noted that Pacquiao had also advanced $507,897 (P26.4 million) in various expenses and loans from his managers—including the $67,639 (P3.5 million) Porsche Cayenne car he bought weeks before fighting his Mexican rival.

His trio of American comanagers got 20 percent of his purse, with Shelly Finkel receiving $240,000, Nicholas Khan $92,800, and Keith Davidson $67,200. They had earlier loaned Pacquiao a combined $60,000.

Pacquiao’s trainer, Freddie Roach, earned 10 percent of the purse or $200,000, $40,000 of which he also loaned to the World Boxing Council International super featherweight champion.

Gary Shaw, the lefty boxer’s promoter, got a total of $372,839, including a flat fee of $250,000 for his services in the Morales rematch, $52,000 in advances to Pacquiao, and the Porsche he bought for the fighter in Los Angeles.

In addition, "The People’s Champion" paid $376,666 to the US Internal Revenue Service for present and back taxes, and $200,000 for advances he made from Top Rank, the promotional outfit that arranged the rematch. American Bob Arum, Morales’ promoter, owns Top Rank.

Team Pacquiao, however, expects to receive an additional $1.25 million besides the purse money once all of the pay-per-view income and additional revenue from Morales-Pacquiao II is calculated, Hauser noted.

The boxer’s comanagers will be entitled to 20 percent or $250,000 of that amount, bringing their collective share from Pacquiao’s earnings to over $600,000.

[EL Chicane]

Sa tingin ko lang, parang mahina yung P16 million sa hirap at bugbog na dinanas ni Idol. Tsk! Tsk! Tsk! Madaling waldasin ang P16 million sa panahon ngayon.

Samantalang yung mga promoter eh patawag-tawag lang sa telepono eh halos pareho ang bayad kay Pacman.

Ganito ba talaga ang hatian sa boxing? Or nadudugas na naman tayo?

[Isuzoom]

16 million lang para di habulin ng BIR..the rest nasa california bank..

[BlueBimmer]

at least manny has bought several Lots/houses. Gensan, Davao and Makati i think puro may bahay sya (condo sa makati), not sure.

[ILuvDetailing]

unfortunately ganon talaga sa boxing, kaya dapat pagbutihin ni Pacman ang mga susunod na mga laban niya para lumaki pa ang prize money at dumami ang endorsements niya.

[mrpink]

the more reason he should spend his money wisely ..

[theveed]

Kahit naman sa NBA ganun, I remember may parang rookie camp sa tv dati sinasabi ng mga old timers na kung nakahawak kang 5M contract, ang totoo na mapupunta sa bulsa ng player mga 1.5M lang coz almost half sa taxes, tapos sa agents, managers etc...

Kung di ginamit ni Manny utak nya tingin ko mayayari din to pag tanda... Porke alam nyang may papasok na milyones nangutang na para lang bumili ng oto... Gastos bago kinita ang pera.

[BlueBimmer]

mahirap kasi dyan maraming nakalibot kay manny, maraming gs2 makishare sa pera nya. nagpapautang agad kay pacman kahit di pa nanalo

[IPSG_SlimShady]

I respect that it's his money, pero I think EXTRAVAGANCE yung line-up niya ng kotse dito sa Pinas. May Lincoln Navigator pa.

P16 million (Pesos) is a small money to maintain an extravagant lifestyle nowadays. Lalo na kung wala kang steady income compared with business tycoons.

So I guess it would be wise for Manny to create a STABLE money-generating source of income bago siya maging todo-bigay sa lifestyle of the rich and famous. Tutal bata pa naman siya. He can plan to burn money in his 30's.

[chua_riwap]

Ok ah. Ipinangutang na pala, bago yung laban.

Eh yung BIR pa dito sa Pinas? Di ba magbabayad din siya ng tax dito? Ilang percent naman kakaltasin? I heard na its 32% daw.