Just how much is Manny Pacquiao worth
December 12, 2008 by dragon
The prestigious New York Times, in its April 14, 2007, issue, reported that Pacquiao earns “about $20 million a year, including endorsements.”
Assets, Businesses:
“He owns a rooster farm, a boxing promotions company and a basketball team called MP Warriors, which plays in the country’s top league,” wrote the Times. Pacquiao, who also owns a lotto outlet, has appeared in movies and released CD albums. He recently signed a deal as an exclusive talent for GMA 7.
Other diverse revenue streams for Pacquiao include selling his likeness to video game maker EA Sports for its popular 'Fight Night' game. He also owns rental property.
Endorsers:
Pacquiao has endorsement deals with companies like Nike, Alaxan, McDonald’s, Xtreme Magic Sing, PLDT, San Miguel Beer, Café Puro, to mention a few. The deal with Fortune 500 giant Nike was signed in September 2006 and is good for two years. No actual figures are released from Pacquiao’s endorsement deals but they are easily worth over a P100-million spread in several years.
Filipino Athlete Standing/Rank:
Pacquiao is also the third Filipino athlete (after pool legends Efren Reyes and Francisco Bustamante) to appear in a video game—Electronic Arts’ Fight Night (Round 2 and 3 editions). How much is the video appearance worth? The video game industry is mum on the matter, but if recent reports that Electronic Arts paid disgraced legend O.J. Simpson $50,000 for its football game are true, then it’s safe to assume that Pacquiao earned somewhere in that vicinity.
Boxing Purse:
It is in pro boxing where Pacquiao’s earnings are somehow measurable. Win or lose, a boxer is guaranteed to receive the purse stipulated in his contract. His contract with American promoter Bob Arum reportedly guarantees him a minimum of $2 million for every fight.
In the last two years, Pacquiao has earned $21 million from the following fights:
$2 million—against Erik Morales (January 2006)
$1 million—against Oscar Larios (July 2006)
$3 million—against Erik Morales (November 2006)
$2 million—against Jorge Solis (April 2007)
$2 million—against Marco Antonio Barrera (October 2007)
$11 Mill – against Dela Hoya (December 2008)
This is equal to 1 Billion Philippine pesos at an exchange rate of 49:1$!!
Interestingly, when Pacquiao made his US debut in June 2001 as a last-minute replacement he took less than $ 40,000 since he also had to pay his business manager and trainers.
The guaranteed purses do not include Pacquiao’s share in the pay-per-view earnings of the fights. Fans in the United States shell out between $45-to-$50 to have the fights of Pacquiao shown live on their TV sets. Pacquiao has a cut in the pay-per-view fee. Pacquiao’s January 2006 win over Morales generated 350,000 buys or the equivalent of $16 million. That’s a very huge pie to divide.
Recent PPV Pie Slice
PPV ratings came in at 1.25 million buys, making it the first PPV boxing event in 2008 to top the 1 million mark. So, that was an extra $5.2 million for Pacquiao and De La Hoya got $3.8 million since his cut was already $20 million from the fight. The rest of the money went to sponsors, promoters, etc. He indicated that when all the reports are in it could reach 1.35 or 1.4 million.
The fight, which generated $70 million in PPV revenue, is only the fourth non-heavyweight event to reach 1 million buys — all four featuring De La Hoya. Topping the list is the 2006 De La Hoya-Floyd Mayweather fight, which drew 2.4 million buys, followed by the 1999 De La Hoya-Felix Trinidad and 2008 De La Hoya-Pacquiao fights (1.25 million buys) and the 2004 De La Hoya-Bernard Hopkins bout (1 million buys), said HBO.
With his fantabulous win against Oscar De La Hoya on December 6th in Las Vegas Manny Pacquiao is set to be propelled onto the list of the most wealthy individuals in his native country of the Philippines.
While Pacquiao will probably never be confused with Bill Gates, Warren Buffett or even Donald Trump – all business titans of the United States and the world – he will make the list of the top 30 to 40 wealthiest Filipinos.
According to Forbes Magazine, the cut-off to make it onto the top-40 most wealthy in the Philippines is in the neighborhood of $25 million. The 40th spot is currently occupied by another Manny – Emanuel Pangilinan – who is Chief Executive of Hong Kong's First Pacific Company which owns major stakes in Philippine Long Distance Telephone and Indonesian noodle maker Indofood.
Headlines were made earlier this year when it was reported that about $180,000 of Pacquiao's money was plundered from a Los Angeles area Wells Fargo bank by a former associate who forged his name on checks. Pacquiao said he had "forgotten" about the account and was not even aware of the fraudulent transactions.
And just several weeks ago, perhaps in a sign that he is attempting to keep a better handle on his money, Pacquiao suddenly boarded a flight and flew back home to the Philippines to ensure his fortune was secure as the global economy went through a financial meltdown. The rumor is reportedly tied to the collapse of Lehman Brothers.
But as Coach and friend Freddy Roach stated in the 24/7 HBO Pre-fight special, he worries that Manny gives around money too much and can't say no and might one day run out of money.
With the way he's spending, including binges in cockfight and casino bets, let's hope he doesn't end up bankrupt like Local legend Navarette and Former champion ear biter Tyson.
sources : manilatimes, boxingscene, multichannel
[...] The video game industry is mum on the matter, but if recent reports that Electronic Arts paid disgraced legend O.J. Simpson $50000 for its football game are true, then it’s safe to assume that Pacquiao earned somewhere in that vicinity. …[Continue Reading] [...]
[...] Just how much is Manny Pacquiao worth? http://financemanila.net/2008/12/just-how-much-is-manny-pacquiao-worth/ [...]
[...] finance manila stocks, and life in the metro [...]
[...] "Money" Manny Pacquiao – one of the richest athletes in the world Some perspective on just how rich Pacquiao is getting. Take a look at just some of the fortune 500 companies that sponsor him. Nike Manny Pacquiao McDonald's Video : Mc Donalds Pacquiao TV Ad 2007 Unilever Nikon Pacquiao debuts in Forbes' highest-paid athletes list | ABS-CBN News Online Beta Just how much is Manny Pacquiao worth : Finance Manila – Philippines, business, tech, travel, … [...]
go go pacquiao good luck to youre fights.