Tuesday, March 6, 2007

Oscar De La Hoya's cash deal to Manny Pacquiao exposed

A recent report out published in the L.A. Times, reports that Oscar De La Hoya and his chief executive of Golden Boy Promotions lured Manny Pacquiao into signing a multi-fight contract by delivering to him a suitcase stuffed with $250,000 in cash as a signing bonus. The publication reports that Pacquiao's trainer, Freddie Roach confirmed the incident went down at a Beverly Hills steakhouse in September.

"Manny told me he wanted a signing bonus, and I relayed that to Golden Boy," Roach said. Roach added: "They negotiated a deal and they gave him the signing bonus, and some of it was in cash in a suitcase."

On Wednesday of last week another publication, The Las Vegas Review Journal reported details of Roach's deposition on Feb. 13 as part of the civil lawsuits going on between Golden Boy and the rival promoter, Bob Arum's Top Rank Inc. This is how the cash deal was made public. Both firms are suing over Pacquiao's promotional rights to his next fights.

Quoted by the LA Times, Roach said on Wednesday in Hollywood: "I told Oscar that Manny likes cash, he likes to deal in cash, he pays people in cash," Roach added: "I didn't think there was anything wrong with it. Actually, Manny wanted more cash."

No comments: