Manny Pacquiao is Drowning in Some Much Debt and Tax Issues That He is Scared to Come to US to Fight in Fear of IRS Freezing His Assets.. – BlackSportsOnline
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Manny Pacquiao is Drowning in Some Much Debt and Tax Issues That He is Scared to Come to US to Fight in Fear of IRS Freezing His Assets..

Everyone knows that no matter how much an athlete makes, he can blow it all. We have seen it too many times to be surprised by it, but it is still amazing to think how someone who has made well over $300 million in his career like Manny Pacquiao could be having money issues.

It is a known fact in boxing circles that Pacquiao has not been good with his money and had people around him that didn’t have his best interest at heart.

While he is seen as a National Hero in the Philippines, he still has major issues, especially in the states.

He was scheduled to be on the undercard of the Bud Crawford-Jeff Horn PPV, but took it as an insult and is now trying to make his own deal for a fight overseas. According to Top Rank that will not happen without their permission, which may lead to some nasty negotiations in the future.

Pacquiao, however, told the Manila Times that his company would handle the promotion, fueling speculation that there has been a break between Pacquiao and Arum, his longtime promoter.

Arum had offered Pacquiao a fight with faded former junior welterweight titlist Mike Alvarado on April 14 at the Mandalay Bay in Las Vegas in the co-feature position on the card headlined by former undisputed junior welterweight world champion Terence Crawford’s move up to welterweight to challenge Jeff Horn for the title Horn controversially won by decision from Pacquiao in July.

Pacquiao, however, is said to have been stung by the offer of an undercard spot on a card headlined by a fighter most thought he defeated. Beyond that, Pacquiao has deep tax issues despite earning hundreds of millions of dollars that Arum said would keep him from fighting in the United States.

“He’s afraid whatever deal he makes with the IRS they’ll seize all the money so he can’t fight here,” Arum said. “We thought we could work it out with the IRS.

There is also some speculation that Freddie Roach will be his trainer anymore.

Arum said if the Malaysia fight happens that Matthysse could indeed be the opponent or possibly the Top Rank-promoted Jose Ramirez (21-0, 16 KOs), the 2012 U.S. Olympian from Avenal, California, who fights Amir Imam for a vacant junior welterweight belt on March 17 on ESPN at the Hulu Theater at Madison Square Garden in New York.

If Ramirez wins the title and the fight is made, Arum said Pacquiao would move down to junior welterweight, which he said “makes more sense” than a fight with Matthysse. A Pacquiao-Ramirez fight would be complicated given that Freddie Roach trains both fighters, although Roach has said he has not heard from Pacquiao in quite some time and is unsure if Pacquiao still wanted him to be his trainer.

Pacquiao has to keep fighting because he needs money coming in to support not just himself but an entire country. At some point, if he wants to fight this Spring/Summer, all of this will have to be cleared up sooner than later.