Manny Pacquiao and Floyd Mayweather will be forever joined in names, and more, as long as their mega fight doesn’t happen. We’ve all known about Mayweather’s run-ins with the law, and his future jail time that’s waiting just around the corner, after his fight with Miguel Cotto. Now Manny Pacquiao, because of alleged tax evasion, faces the same future in the Philippines.
Forbes have placed Manny Pacquiao as the 24th richest athlete in the world just less than a year ago, but apparently, in the Philippines, where Manny is not just a boxer and icon but also an actor, singer and politician, someone hasn’t been pleased with Manny’s tax reports, or lack thereof.
Tax officials in the country have filed a criminal complaint against Pacquiao after he failed to deliver documents to investigators examining his tax returns. If he’s found guilty, he could serve up to two years in jail. The matter at hand regards Pacquiao’s 2010 tax returns, a year in which he made over $40 million dollars from his fights with Joshua Clottey and Antonio Margarito.
The mentioned tax returns contained discrepancies, and Pacquaio failed to submit the necessary documents despite notices and a subpoena. Although Pacquaio has brought in around $400 million from PPV fights during his career, there have been plenty of rumors regarding his financial problems and accounting firm revealing not-so-straight-by-the-book stuff about him, getting them fired.
Maybe there’s a reason $40 million wasn’t enough for him from Mayweather? I don’t buy that. That’s just an insulting offer from the undefeated welterweight champion, and if Pacquiao was in such bad shape, he probably would have taken the money. I don’t believe Bob Arum has milked him that dry.
Mind you, the recent rumors regarding the whole “negotiations” implied that Pacquiao was willing to take 30% from the PPV haul. Mayweather, formerly known as pretty boy, now known as Money, said it’s about self preservation, and he can’t afford to share anything from the PPV money. Too much gambling probably.
Mike Tyson, the former heavyweight champ and someone who has been through jail and financial problems himself, has a solution for the whole Mayweather – Manny Pacquiao problem. Throw them in jail. Yes, one of the most brilliant minds of our times has it all figured out.
Mike Tyson – Listen if I was President I would throw them in jail if they didn’t fight. I’d have them arrested. You can’t do that but that’s what I would try to do. I’d be like, These guys need to get locked up and find a new profession until they get their heads clear.