Manny Pacquiao will be paying a huge sum of money for a breach of contract.
Former boxing champion Manny Pacquiao is in an uncomfortable position of having to pay back millions of dollars to a famed combat sports agency. According to reports, Pacquiao entered into a contract with Paradigm Sports Management to set up a huge boxing match with their star client Conor McGregor and was granted a large advancement. When that fight never came to fruition, Paradigm took action to sue the boxing legend. Now a jury was ruled in favor of the sports agency and Pacquiao must pay back the advancement and a large sum in damages.
Paradigm filed a civil lawsuit against Pacquiao claiming a breach of contract. Pacquiao was looking to make a big fight with McGregor but instead failed to piece that together and fought Yordenis Ugas instead. During the negotiations, Pacquiao was involved with another promotion, TGB Promotions, which he did not tell Paradigm about. This led to trouble booking his fight and led to the lawsuit.
Manny Pacquiao is ordered to pay 5 million dollars to Paradigm Sports Management
It is no secret that Pacquiao has been looking for a fight with McGregor. He has been vocal for years about wanting the chance at that fight. Ever since McGregor fought Floyd Mayweather back in 2017, Pacquiao has been mentioning doing the same. This contract with Paradigm seemed to be his way in. The negotiations seemed to be stemming from before 2021 and that is when McGregor suffered an injury to his leg.
Update: Jury has reached a verdict in the Paradigm Sports vs Manny Pacquiao Civil Lawsuit. Jury sides with Paradigm 9-3 and awards PSM $5.1M (1.8 damages + the 3.3 advance PSM gave to Pac) more to come on @ABSCBNNews @TFCNewsNow https://t.co/cidKrbj4sB
— Steve Angeles (@StevieAngeles) May 3, 2023
Now, not only did he not get the fight with McGregor, but in a 9-3 jury ruling he must pay $5.1 million to the sports agency responsible for McGregor. The repayment is broken down to $1.8 million in monetary damages and $3.3 million advance payback.
Pacquiao’s last professional boxing match was the loss to Ugas back in August 2021. He has been involved in an exhibition bout since then with YouTuber DK Yoo in December. This lawsuit and the sour taste it left with Paradigm may as well rule out a possible bout between him and McGregor in the future.
