It is more fun criticizing
News has it that Cong Pacquiao needed the Rios fight badly and many more fights, despite having aged all ready, because he is broke. He is hemorrhaging lots of money. Team Pacquiao entourage has mismanaged the earnings of Pacquiao, despite having accumulated more than $200 million.
His downfall will be his generosity, according to a Times article written by Michael Koncz:
Let us quote the excerpt:
Despite earning nearly $200 million during his brilliant career, Pacquiao always hemorrhaged money. Gary Andrew Poole's 2010 biography, "Pacman," laid out how Pacquiao's contracts were split: After his manager's took their 20-percent cut, his trainer Freddie Roach took 10 percent, strength and conditioning coach Alex Ariza shaved off a few more points. There were also training camp expenses, tax bills in the U.S. and the Philippines, and his boundless, ever-growing entourage, all guzzling funds. According to a 2009 New York Times article by Greg Bishop, "Team Pacquiao has perfected the art of dysfunction. The entourage consists of trainers, assistants to the trainers, advisers, assistants to the advisers, cooks, dishwashers, car washers, publicists, gofers and security." For each fight, Pacquiao also spent hundreds of thousands of dollars flying his entourage to Las Vegas, buying hundreds of tickets, covering hotel rooms, and providing spending money. In the Times article, Michael Koncz, singled out Pacquiao's Achilles' heel: "The downfall of Pacquiao, if there is one, will be his kindness and generosity. At some point, I fear that's going to catch up to him." Beyond Pacquiao's generosity, he reportedly squandered millions from gambling. That doesn't even account for his fleet of cars and extensive property holdings, including houses, condos, apartments and such an intense desire to give his money away to the poor he had to hire people simply charged with the responsibility to apologize and prevent him from throwing money at all the open hands spread out before him.
