Pac fires his accountant team visionquest Good or Bad move???

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Mike tyson didn't capatilazie on his popularity to it's fullest back in the 90's, but he is now. Why do you think you see him in all these movies and on all the TV shows now? He just finding ways to get work.

I know Tyson went broke years ago, but I doubt he has much financial problems now

 

good move..

you gamble and give away free money like Floyd so why spend money on a company to watch your own finances. AND, you didn't bother to take their advice about the contract.

 

U just proved my point by your last sentence.

It is one thing to go broke after u made 90% of what you will ever make like Tyson but with Manny he has his biggest paydays ahead of him in the states and still has the potential to become President of his Country one day which would make him set for life not to mention all the other things he has going which will bring him revenue for years to come. Going broke when you have massive earning power ahead of you is nothing it happens all the time. Going broke when you have little earning power ahead is a big problem like with the American fighters mentioned.

 

Tyson was and is far more famous than Pac ever will be. Pac will never be broadly famous in the US. Boxing is not big enough in the US for a foreign fighter to be a huge crossover. If Pac ever needs to rely on his pathetic singing to make a living god bless him.

 

He remains over 100 million dollars in debt.

 

damn really? Well he's still living comfortably

 

He lives in the Philipines and is the most famous person in that country.
Mike Tyson when he went broke was not even the most famous person in prison.

 

who was?

 

I am sure it will come down to VisonQuest demanding power of attorney.
Usually companies like that will tell a client they cannot do the proper job without it. This would mean they would have the freedom to sue whoever they wanted even Arum, Koncz, his current lawyers, family, friends etc.
I am sure he wants to see what is going on but without such a harsh approach.
Much better ways he can do it without making it such a big commotion.

Any half decent accountant can look at what he takes home after all expenses and determine what percent he gets as most of the purses are public. If he doesn't know who is getting what the accountant can see who after Arum is getting paid what. it is not rocket science.
takes one good accountant from the outside with integrity not some giant company that will bang him out even further.

 

hmnnn... what does tyson, bowe, holyfield, and hearns have in common but not found in pacquiao?

 

It's funny when guys who don't know **** about Pacquiao or his status in the Philippines speculate about his finances.

1. Pac has a Php 100M parachute package from San Miguel Corp., one of the largest conglomerates in the country, the day that he retires from boxing. This was a gift from Danding Cojuangco for bringing glory to the country and for endorsing San Miguel products.

2. Pac's statement of assets and liabilities for 2011 showed he had assets totaling $26M with ZERO liabilities. Assets are typically understated and undervalued while liabilities are often exaggerated to minimize tax liabilities.

3. His income from the Mosley fight, estimated at $25M gross or $15M net, is not yet included in his 2011 SAL statement since it occurred just this mid-year.

4. Pac has waived his endorsement fee from the Phil. Charity Sweepstakes Office in return for a donation of 8 ambulances to his province, waived a part of his HP fee for a donation of 2,000 PCs, purchased several hectares of land to give to flood victims, purchased several hectares for land for donation to Habitat for Humanity, purchased hundreds of fishing boats, carabaos and artesian wells for his constituents. These are not the actions of a man who is broke.

5. Pac owns several commercial buildings and business enterprises that earn him additional money.

6. Pac is the number two endorser in the Philippines, and he has a highly rated TV game show.

7. Roach has admitted that he has no communication whatsoever with Pac outside of his training, so he doesn't have much first-hand knowledge of Pac's finances. He did acknowledge before that Pac is too generous and that he is worried about him eventually going broke. But then, so did Arum.

If believing that Pac is going the way of Tyson or Holyfield gives some people some form of satisfaction, then so be it. Fortunately, the truth is far from it.

 

VisionQuest got fired because of unprofessional conduct, plain and simple.

They are an accounting firm hired by Pac to examine his financial records and provide relevant recommendations. But why would an accounting firm provide interviews to reporters and leak information about their client? Why publicly crow about supposedly uncovering a can of worms when they have yet to report their findings to their client? Why publicly criticize their own client for signing a contract, even if they personally disagreed with it? Why meddle in Top Rank's negotiations with HBO and Showtime?

VisionQuest did not act professionally, hence the termination.

 

Tupac?!? :rofl