According to a press release on his official website, MP8.ph, Manny Pacquiao has hired the services of VisionQwest Resource Group, Inc. and VisionQwest Accountancy Group to handle "all accounting, personal and business tax, audits and examinations, as well as all contract reviews." The firm, which specializes in taxation, corporate finance and organizational structuring, strategic planning and marketing, will now be responsible for reviewing all contracts, including those regarding his boxing career, prior to his signing. The most interesting information noted in the press release is that VisionQwest has retained the services of "a strong boxing business professional who has a solid background in fighter management and negotiations."
Although the press release did not name exactly who that "boxing business professional" is, it will be extremely interesting to see how this move impacts the working relationship with his promoter, Bob Arum, and Top Rank Promotions, who it would seem had no idea this move was coming. The press release notes that the decision to bring in an outside firm was soley made by Pacquiao in order to "create a stronger management team to run his financial and contractual affairs, to enhance future fights and to build MP Promotions into a stronger business unit." It also makes it clear that the company is currently reviewing all of Manny Pacquiao's contracts dating back to 2005 and moving forward, they will be reviewing current team members to decide exactly who is staying and who is going. Obviously this news is related to the rumors that Michael Koncz was fired.
CLICK HERE TO CHECK OUT THE FULL PRESS RELEASE AT MP8.PH