Manny Pacquiao has a counter-punch lined up for his defense as the boxing legend prepares to fight off a $20 million lawsuit.
Paradigm Sports will attempt to block Pacquiao from earning any future money until he pays back a settlement they claimed in a legal dispute.
Audie Attar, the representative for Paradigm, launched a tirade against the eight-weight world champion for not following through on their agreement.
Fights against Mikey and Ryan Garcia, plus a cross-codes battle with Conor McGregor, all fell apart despite Pacquiao agreeing on a deal with Paradigm.
As the company tries to recoup its losses, Pacquiao is ready with his defense over false promises, which was revealed to World Boxing News.
Manny Pacquiao vs Paradigm Sports
“PSM repeatedly, emphatically, and falsely promised Pacquiao that PSM would immediately secure a ‘mega fight’ between Pacquiao and McGregor. That’s if Pacquiao signed with PSM as his manager,” implied Pacquiao’s statement to WBN.
“This bout was undoubtedly appealing to Pacquiao. Especially given that Pacquiao’s historical rival [Mayweather] fought McGregor in a very popular and lucrative bout on August 26, 2017.
“To further induce Pacquiao into an agreement, PSM also falsely promised that it had eight endorsement deals already ‘lined up’ for Pacquiao. And that PSM would advance Pacquiao $4 million if he signed an agreement for PSM to serve as his manager.
“In reality, PSM never intended to arrange a bout between Pacquiao and McGregor.
“PSM never secured any of the many endorsements it claimed were ‘lined up.’ And PSM never intended to advance the total $4 million to Pacquiao.
“As further proof of its fraudulent scheme, before Pacquiao and PSM entered into any agreement, PSM had entered into a secret contractual relationship with Pacquiao’s trusted advisor Arnold Vegafria.”
The information continued: “Through the foregoing fraud, deceit, and concealment, PSM induced Pacquiao to sign. He entered into [a revised] management agreement with PSM in October 2020.
“However, shortly after that, PSM informed Pacquiao that the promised bout with McGregor would not happen. PSM also advised Pacquiao that there were no endorsement deals, contrary to what it promised him.
“Paradigm has done nothing for Pacquiao. PSM has swindled him and selfishly attempted to exploit Pacquiao’s name. And to expand its business to include professional boxers in addition to MMA fighters,” the response concluded.
Manny Pacquiao will use this list of his gripes to get the case dismissed next month. However, he also has a counter-claim against Paradigm that must be addressed.
A very messy situation.