Top Rank paid for Pacquiao tax

MANILA, Philippines – Hall of Fame promoter Bob Arum has assured the Bureau of Internal Revenue that Manny “Pacman” Pacquiao’s taxes have already paid for in the Internal Revenue Services following the boxer’s tax issues in the country.

“Filipino authorities confirmed that Manny is not required to pay double tax,” Arum said in a statement published in fightnews.com. “If Manny paid United States taxes for fights and endorsement that occurred on U.S. soil, he is not required to pay double taxes in the Philippines.”

This followed after the BIR issued a warrant of “distraint” early this year against the Fighting Congressman after it said he failed to remit taxes amounting to P2.2 billion to the government of his earnings stemming from 2008 and 2009.

According to Arum, Top Rank withheld 30% of Pacquiao’s purses and paid those sums directly to the IRS including the boxer’s fights that happened in the U.S. in 2008 and 2009.

“Top Rank has deposit confirmations for each payment,” said Arum whose promotions company made the payments through Electronic Funds Transfer (EFT). “Top Rank has done the same for all U.S. endorsements it has facilitated on Manny’s behalf.”

Arum added that the Top Rank has submitted copies of the EFT deposit acknowledgements to the BIR as proof of the payment.

“The BIR received the documents but directed Manny to obtain ‘certified’ documents directly from the IRS itself.”

Arum said that obtaining the copies of the documents from IRS takes a lengthy process, nonetheless, the promoter said that the eight-division world champion made the formal request to the IRS and expects that the documents will be furnished to the BIR “very soon.”

source: sports.inquirer.net

Mayweather weighs in 1.5 pounds lighter than Alvarez

LOS ANGELES — Floyd Mayweather, who is fighting twice in the same calendar year for the first time since 2007, weighed in at 1.5 pounds lighter than Mexican star Saul Alvarez.

The boisterous crowd of about 12,000 that squeezed into the MGM arena cheered loudly Friday when Alvarez tipped the scales right on the catch weight of 152 pounds (68.9 kilograms) one day ahead of their 12-round world championship bout for the 154-pound title held by the Mexican boxer.

The world’s highest paid athlete Mayweather will put his perfect record on the line when he squares off against Alvarez in a showdown between the two undefeated boxers.

“My job is to go out there and keep my composure and be the same Floyd Mayweather,” he said at the weigh in. “I can’t wait to get out there and go to work.”

The 36-year-old Mayweather weighed in at 150.5 pounds — just under the mutually decided catch weight of 152 pounds.

Alvarez (42-0-1) hasn’t weighed 152 or less for a fight since 2011, while Mayweather has fought above 147 just twice — for the Oscar de la Hoya and Miguel Cotto wins.

Alvarez said on Wednesday he was sparring at 155 pounds but feels comfortable moving down in weight to fight Mayweather.

Saturday’s fight has generated huge interest, especially in Mexico where the 23-year-old Alvarez is considered one of their biggest sporting heroes.

The fight with Alvarez is the second in Mayweather’s six-bout, 30-month contract with American cable network Showtime that could pay him more than $200 million.

After Mayweather beat Robert Guerrero in May, he said he wanted to fight again in September.

Mayweather’s guaranteed purse for the Alvarez fight is reported to be a record $41 million, which would surpass the previous record of $32 million he received for fighting Guerrero.

Organizers are also hoping that this fight will eclipse two million pay-per-view sales. Mayweather will also get a cut of the pay-per-view money on top of his purse.

The last time Mayweather stopped an opponent inside the distance was two years ago, when Victor Ortiz lowered both his hands and was looking at the referee. Mayweather seized the moment and hit Ortiz with a combination of fight-ending punches.

source: sports.inquirer.net

Stunned Pacquiao eyes revenge in Bradley rematch

LAS VEGAS - Boxers usually look devastated in defeat but Manny Pacquiao smiled and turned his mind to quick, brutal revenge after being stunned by a controversial split decision loss to Timothy Bradley in their WBO welterweight showdown on Saturday (Sunday, PHL time).

Pacquiao said he was "100 percent" confident he had won the 12-round fight at the MGM Grand and, like his American challenger Bradley, eagerly looked forward to a rematch on November 10 at a venue yet to be decided.

"I didn't listen to the announcement because I thought I had won [verdicts from] all the judges," Filipino southpaw Pacquiao told reporters after ending an unbeaten run of 15 bouts.

"I respect the decision but 100 percent I believe I won the fight. I don't even remember if he hurt me one punch. He got me with a couple of jabs but I don't remember if he hit me a solid punch in my face.

"I give Bradley credit, maybe three rounds for him because in some rounds I relax. Aside from three rounds, every round I hurt him."

Pacquiao surrendered his WBO welterweight title after earning one verdict from judge Jerry Roth (115-113) while CJ Ross (115-113) and Duane Ford (115-113) gave the fight to the American.

The Filipino's trainer, Freddie Roach, was dumbfounded by the decision.

"I was very surprised they gave it so close," the bespectacled Roach said. "I had it for Manny by 10 rounds to two."

Even Bradley sounded surprised at the decision.

"Pacquiao was a tough, tough warrior. This guy can punch, he has speed. He has all the tools," he said.

"I used my ability to clear some rounds, maybe the last five rounds I feel, to get the victory. I am still shocked."

Dish served cold

While Pacquiao said he wanted to respect Bradley after a result which was roundly booed by the crowd, he promised to beat the American inside the distance when they next meet.

"It will make me a warrior in having this kind of rematch," Pacquiao said, looking to avenge the loss. "I want to finish him before the whole 12 rounds. I want the rematch."

Bradley, a 5-1 underdog against Pacquiao, was also itching to have the rematch, which he had arrogantly promoted during the build-up to Saturday's (Sunday, PHL time) fight.

"That was all my idea, pretty much," said the 28-year-old from Palm Springs in California after improving his career record to 29-0 with 12 knockouts.

"Just part of promoting the fight, hyping it up," he added, addressing reporters from a wheelchair.

"I felt I was going to win this fight so the rematch is in place, the date is there. It's definitely going to be a different fight."

Bradley conceded that hearing the boos from the crowd after the decision had been announced gave him added motivation to get back into the ring with Pacquiao.

"I'm happy to be the new welterweight champion but I definitely would like to do this again," said the American, who was back in the ring for the first time since he retained his WBO junior welterweight title by stopping Cuba's Joel Casamayor in November.

"I heard all the boos at the end of the fight, which is okay because we need to do this again. Let's make this more decisive."

Bradley spoke to the media while sitting in a wheelchair before being taken to hospital to have a check on his ankles, which he said he had twisted during the second round.

"I injured my left foot in the second round, twisted my ankle, and now both of my ankles are swollen," he added. "I got hit with some big shots early on but I persevered and went through the pain." - HS, Reuters

article source: gmanetwork.com