Violating Contracts With PSM, Manny Pacquiao Is Demanded To Pay IDR 74.9 Billion
The legendary Filipino boxer Manny Pacquiao was told to pay 5.1 million dollars or equivalent to Rp74.9 billion after violating a contract with Paradigm Sports Management (PSM).
In the decision made, the jury considers Pacquiao's actions to not fulfill contractual obligations leading to the loss of millions of dollars in potential income that PSM should have earned.
To that end, nine of the 12 jury decided Pacquiao had to issue compensation to PSM. In addition, Pacquiao also had to pay a down payment of 3.3 million dollars or equivalent to Rp48 billion.
The decision comes a week after Pacquiao, who is the only eight-division world champion, testified privately for more than six hours.
He answered questions from his lawyer Bruce Cleeland as well as from PSM Judd Bernstein's lawyer. Cleeland argues that Pacquiao has used Paradigm, which has never worked with boxers before.
The sports company representing mixed martial arts superstar Conor McGregor claims that Pacquiao is hiding the agreement with other companies and other match brokers.
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PSM founder and CEO, Audie Attar, also testified in several hearings in April. The opposing parties then gave their last argument on Friday.
Bernstein questioned Pacquiao's credibility after Pacquiao's big fight plan between Pacquiao and McGregor was scrapped.
The lawyer argues that Pacquiao's breach of contract has cost Pacquiao the $22 million in revenue, plus the down payment they have given Pacquiao.
Pacquiao chose to fight Errol Spence Jr. with another sports management group, which Paradigm tried to block.
Spence later picked up an injury and eventually pulled himself out of the fight, which led to a fight against Cuban boxer, Yordenis Ugas.
It was Pacquiao's last professional fight before retiring, he lost an absolute score to Ugas in August 2021.
Pacquiao then ran for president. However, he was only third in the May 2022 election or behind Ferdinand Marcos Jr. and former vice president Leni Robredo.