Eight-time boxing champion Manny Pacquiao’s wallet will be significantly lighter.
A jury returned a verdict in favor of Paradigm Sports Management in its case against Pacquiao in a case against Pacquiao. Paradigm said the star boxer did not disclose the representation agreement he had with TGB Promotions.
The jury ruled 9-3 in favor of awarding $5.1 million to Paradigm Sports. Approximately $2 million in lawyers will also have to be paid. The civil case was filed in the Superior Court of Orange County, California.
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Paradigm stated that he is owed about $8 million after the jury’s verdict, as Pacquiao’s legal representatives will likely try to vacate the verdict.
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«The court has scheduled a hearing for June, and there are still legal issues that must be addressed by the court before the case is fully resolved,» Jason Aniel, an attorney for the firm representing Pacquiao, said in a statement.
Pacquiao announced his retirement in 2021 and last fought Yordenis Ugas in August of that year. The fight with Ugas was one of the main issues of the case.
Pacquiao was originally scheduled to fight welterweight champion Errol Spence, but injury caused Spence to pull out. But, Paradigm was unable to obtain an injunction to stop the fight, and ultimately proceeded. TGB Promotions was presenting the fight.
Due to the Pacquiao-Ugas fight, TGB Promotions was named as an interested party in the civil case.
«The reason Paradigm’s attempt to obtain the injunction failed was, in large part, due to the fact that we had an ongoing contractual relationship with Pacquiao that predated any purported contract Paradigm entered into with Pacquiao,» Phil Weiss, legal counsel for said TGB Promotions.
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The lawsuit was initially filed in June 2021. Paradigm Sports also represents UFC superstar Conor McGregor.