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.