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> Scared of the Taxman?, Is Pacquaio telling the market that made him to suck an egg?
Cheesey1
post Feb 14 2013, 03:17 PM
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Nothing's wrong with making sure that you take every deduction possible to lower your taxes, but WTF, just because you're rich doesn't mean that you don't have to pay any taxes at all.

There are a lot of people who make as much if not more than Pacquaio and they take the tax hit like adults (of course with the help of legal deductions...) and keep it moving.

He's just grimey.
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mrchitown
post Feb 14 2013, 08:06 PM
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QUOTE (bnoles4life @ Feb 14 2013, 07:07 AM) *
True story, Chi. Everyone, those w/ or w/o dough, look to save as much $$ in taxes as possible. You're right, major sports leagues in the U.S. are taxed in each state, as their companies are conglomerates. I'm glad you know that, as so many fans aren't aware and I hate hearing the "you get paid x amount of money..."


True, you may get paid x amount of money but that is before those taxes get taken out and depending on that x amount of money your making, that will decide how much money will be deducted from your pay. And your so right, I don't care who you are, we all trying to save as much cash from the tax man as we can

The only thing I don't like about Manny's situation is that when he loses a fight he don't want to fight here anymore, and that's kind of a punkish thing to do but that's on him. But he needs to keep in mind that his fan base and his aura of invincibility came about from the American fans
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BigFightFan
post Feb 15 2013, 06:47 AM
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Manny is at the end of his road and knows he needs to make enough cash in his last few fights to survive after boxing. We all find ways to save and cut cost when it's crunch time.
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Cheesey1
post Feb 15 2013, 09:17 AM
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QUOTE (BigFightFan @ Feb 15 2013, 06:47 AM) *
Manny is at the end of his road and knows he needs to make enough cash in his last few fights to survive after boxing. We all find ways to save and cut cost when it's crunch time.

Then he should make the Mayweather fight.
Even with the changed dynamics, it'll still pay him more than two, possibly even three matches against guys not named Mayweather, especially since Marquez told him "hasta la vista."
If they offer him $40MM with hardly any/ none of the American PPV (which he should be fine with since he's no longer interested in fighting here), that's a better deal than fighting three more times and sustaining more damage for essentially the same money.

Also the tax hit they're talking about is probably not the actual number after he takes all of those massive deductions for expenses - payng his trainers, entourage, travel etc.

This post has been edited by Cheesey1: Feb 15 2013, 09:23 AM
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Cshel86
post Feb 15 2013, 11:42 AM
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QUOTE (Cheesey1 @ Feb 15 2013, 09:17 AM) *
Then he should make the Mayweather fight.
Even with the changed dynamics, it'll still pay him more than two, possibly even three matches against guys not named Mayweather, especially since Marquez told him "hasta la vista."
If they offer him $40MM with hardly any/ none of the American PPV (which he should be fine with since he's no longer interested in fighting here), that's a better deal than fighting three more times and sustaining more damage for essentially the same money.

Also the tax hit they're talking about is probably not the actual number after he takes all of those massive deductions for expenses - payng his trainers, entourage, travel etc.

Couldn't agree more, especially with the bolded part.

Not sure if Bob will ever let Manny fight Floyd, and Manny attempting to buy out of his lifelong contract with TR, is nothing more than a fairy tale...nearly impossible. If anything, that buyout will cost him MORE money and court fees for litigation.

Bob is comfortable with Manny fighting other TR fighters, because he (Bob) doesn't have to share his books with another promoter, like DiBella, Shaw, Goosen, etc. Both fighters belong to Bob, so he'll just say, "Hey Manny, I can only pay you (insert million dollar amount), and I can only pay him (opponent) $5M (or lower)".

That way, he doesn't have to tell the copromoter how much was spent on pressers, travel, and most of all, he doesn't have to share the return on what the fight made. He has two guys (Manny and his opponent) in front of him, that knows how much they're getting, and rarely needs to research what really goes on with the money and promotion of the fight.

Bob could be telling them anything, who knows. I'm sure Bob is using endless methods to keep his pockets lined, can you blame him? He may not have many years left on this Earth, but his family will be well taken care. How many fighters can confirm the same financial arrangements? Trust me, I pass by Holyfield's house on a weekly basis, and it hurts to watch, but my biggest question is, how in the hell did it get to that point?
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Cheesey1
post Feb 15 2013, 01:43 PM
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No doubt TR's contract with Pacquaio's iron clad, but if Pacquaio really wanted to fight Mayweather, he'd stop with the "leave it up to my promoter" rubbish. That act is old.


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Franchize
post Feb 15 2013, 02:46 PM
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QUOTE (Cheesey1 @ Feb 15 2013, 01:43 PM) *
No doubt TR's contract with Pacquaio's iron clad, but if Pacquaio really wanted to fight Mayweather, he'd stop with the "leave it up to my promoter" rubbish. That act is old.

Let the church say AMEN!!! Regardless of who you think is at fault, it's a fact that Manny was not very demonstrative in his "desire" to fight Floyd. When Floyd wasn't getting fights under Bob, he made a huge fuss that spread like a brushfire in the boxing world. Manny's voice regarding fighting Floyd was about as sincere as a guy responding to the infamous "do you love me" right before you think you're about to get some.
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Cheesey1
post Feb 15 2013, 03:22 PM
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QUOTE (Franchize @ Feb 15 2013, 02:46 PM) *
Let the church say AMEN!!! Regardless of who you think is at fault, it's a fact that Manny was not very demonstrative in his "desire" to fight Floyd. When Floyd wasn't getting fights under Bob, he made a huge fuss that spread like a brushfire in the boxing world. Manny's voice regarding fighting Floyd was about as sincere as a guy responding to the infamous "do you love me" right before you think you're about to get some.

Not a bad analogy you used there. Not bad at all. I might have to borrow it one of these days.
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