Tax bite eats up Manny’s pay

Uncrowned world featherweight boxing champion Manny Pacquiao paid $225,000 or about P12.6 Million in taxes to the US government for his recent fight against Juan Manuel Marquez in Las Vegas, it was disclosed by his registered manager Marty Elorde yesterday.

The amount represented 30 percent of Pacquiao’s contracted purse of $750,000.

Co-promoters Bob Arum and Murad Muhammad agreed to split the HBO (Home Box Office) budget of $1.5 Million for the fighters’ purses down the middle.

Despite the agreement, Marquez’ contract stipulated a purse of only $650,000. Las Vegas newspapers reported that the Mexican’s purse amounted to $500,000–raising the possibility that Arum, who promotes Marquez, skimmed off the top.

Elorde and Pacquiao’s business manager Rod Nazario met yesterday morning at the Wild Card Gym in Paranaque to review the expenses for the fight. Elorde, whose five-year contract to manage Pacquiao expires next February, said he is satisfied with the accounting.

US trainer Freddie Roach got $60,000 for his work and Puerto Rican cutman Lenny de Jesus, $8,000. Filipino trainers Lito Mondejar and Buboy Fernandez split $25,000. Sanction fees for the World Boxing Association and International Boxing Federation amounted to a total of $39,000. Other expenses were $1,100 for an MRI, $32,500 for training, $13,000 for insurance and $200 for the Games and Amusements Board Boxers Welfare Fund.

Elorde’s share of $70,000 was split three ways with his two Japanese partners.

Elorde estimated Pacquiao took home between $300,000 to $400,000–including his cut of the TV rights fee. The paycheck was the largest ever earned by a Filipino fighter.

Elorde said he cheered himself hoarse in the upper box section for 12 rounds and went straight to bed after the fight, nursing a fever. He noted that if Mexican fans were outnumbered by Filipinos in the crowd, they were more boisterous.

"The Mexican fans were drinking a lot of beer," said Elorde. "Buti nga hindi nagkagulo after the fight because the Mexican fans thought Marquez won and the Filipino fans thought Manny won."

Several Filipinos flew to Las Vegas to witness the fight. Among them were Cebu promoter Wakee Salud, Jay Aldeguer of Island Souvenirs, PLDT executive Ricky Vargas, actor Cesar Montano and sports patron Jean Henri Lhuillier and his wife Bea Lucero.

Elorde said singer Lani Misalucha’s rendition of the Philippine national anthem in the ring before the fight brought the house down.

"Sayang hindi pinakita sa TV ang pagkanta ni Lani," said Elorde. "Pati mga foreigners napa-palakpak. Very inspiring. Naluma ang pagkanta ng Mexican national anthem that came ahead. The last was the American national anthem. Lani sang a capella, started slow then pataas."

Elorde said he was impressed by Marquez’ recovery from three knockdowns in the first round. "Marquez was more impressive than (Marco Antonio) Barrera," he commented. "Nakahabol siya. Of course, I felt Manny should’ve won. In a rematch, palagay ko, it will go the distance again kasi Marquez will probably hit and run. Manny is too strong for him. Manny will win the decision but if he connects, he’ll win by knockout. Marquez is a difficult opponent for Manny because he’s a counterpuncher and he has the ability to stick to his fightplan."

Elorde bet $200 in the Las Vegas booking office on a Pacquiao win by decision or knockout. Since the fight was a draw, he got his money back. Elorde said the day before the fight, a $200 bet on a Pacquiao victory was listed to win $117. Because of the heavy betting for Pacquiao, a $200 bet was listed to win only $100 on the day of the bout.

Elorde said Nazario told him Pacquiao will take a long rest before returning to the ring, possibly in October. He welcomed the option of fighting World Boxing Council featherweight champion In Jin Chi.

"Walang tatalo kay Manny sa Asia," said Elorde. "Maganda sana kung labanan ni Manny si In Jin Chi sa Manila."

Elorde said he called on Pacquiao in his MGM Grand Hotel room the night before the fight.

"Nagulat ako at pagpasok ko sa kwarto niya, ako pa ang kinumusta," recalled Elorde. "Sandali lang kami ni Boots (Aniel) at ang kanyang anak na si Jason. We wished him luck. It was about 8:30 ng gabi at nakahiga siya sa sofa. Confident kami na mananalo si Manny."

Aniel, a successful Filipina real estate broker from San Francisco, used to be two-time world champion Luisito Espinosa’s manager.