Manny Pacquiao is reportedly paying a hefty amount after losing a civil case filed by an American sports agency called Paradigm Sports Management (PSM). The latter sued Pacquiao in 2021 and now, a jury in the United States of America has decided that the Filipino boxing legend will be held accountable. Pacquiao lost the legal battle against Paradigm and will pay $5 Million. But, what really caused this incident?
Manny Pacquiao lost a civil case filed by Paradigm Sports Management and is ordered to pay more than $5 Million in Compensation
After a long legal battle, the Jury in the Pacquiao VS Paradigm case sided with the sports company. PSM won after the jury voted 9-3, in favor of Paradigm. Unlike criminal charges, a civil lawsuit only requires 9 (instead of 10) out of 12 of the jury to agree to a verdict. In this case, Manny Pacquiao lost against PSM.
Update: Jury has reached a verdict in the Paradigm Sports vs Manny Pacquiao Civil Lawsuit. Jury sides with Paradigm 9-3 and awards PSM $5.1M (1.8 damages + the 3.3 advance PSM gave to Pac) more to come on @ABSCBNNews @TFCNewsNow https://t.co/cidKrbj4sB
— Steve Angeles (@StevieAngeles) May 3, 2023
- According to reports, the reason behind the lawsuit is PSM’s accusation that Manny Pacquiao breached their contract. In addition, the eight-division champion also reportedly worked with another sports company, TGB Promotions, all while still being in contract with PSM. During the trial, PSM was looking for at least a $7 Million compensation.
- With Paradigm winning the case, the court has ordered Manny Pacquiao to pay the company $5.1 Million. This includes $1.8 Million as payment for damages. Meanwhile, the $3.3 Million were advance pay from PSM to Pacquiao and will be returned to the company. Manny Pacquiao’s legal team, which includes lawyer Bruce Cleeland, countered by saying PSM failed to accomplish what was stated in the contract.
- First, they failed to complete the $4 Million advance payment. Then, they alleged that PSM was only taking advantage of Pacquiao and that they were not bringing in fights for the boxing legend. However, Paradigm stated that they have already lost more than $22 Million in revenue because of Pacquiao’s actions. Because of that, the jury reached a verdict entitling PSM to monetary damages.
“He signed the contract, didn’t live up to it, he took money likely because he was in desperate need of it, and he was dishonest throughout the process, hiding relevant facts and think that he’s had to pay a price for it which is fair”. Paradigm Sports Management lawyer Judd Bernstein said after the trial.
What’s next for the Filipino Champ, Manny Pacquiao?
Back when he was still with Paradigm, a fight between Pacquiao and Conor McGregor (another PSM talent) was reportedly in the works. However, that bout did not come to light. Because of that, Pac-Man was slated for a fight against Errol Spence Jr. but the latter suffered an injury.
As a replacement, Yordenis Ugas took Spence Jr.’s place. But, since his loss to Ugas in August 2021, Manny Pacquiao has not been in any professional boxing fights so far. Last year, he went up in the ring against Korean martial artist, DK Yoo. A fight Pacquiao easily won.
Since then, there have been numerous reports of an upcoming Manny Pacquiao matchup. One of which is the rumor that he and his rival, Floyd Mayweather Jr., will be participating in a boxing tag-team match that will also feature Salt Papi and KSI. Another fight that is reportedly coming for the 44-year-old legend is a battle against young British boxer, Conor Benn. It seems that Manny Pacquiao is not yet done with his boxing career. The news is creating an online buzz and his fans are still excited for Pac-Man’s next bout.
👀👀 anytime https://t.co/T4DHhiTK3E
— Conor Nigel Benn (@ConorNigel) March 2, 2023
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