Pacquiao loses $5 million lawsuit with former managers

After his last defeat in the pro ring twenty months ago Manny Pacquiao (62-8-2, 39 KOs) announced his retirement, although many boxing fans would like to see him in action again. The Filipino has so far refused all offers, but perhaps the situation will turn out in such a way that he simply will not have any other choice.

The famous Pac-Man received a heavy knockout in the courtroom. The former king of P4P ratings lost to the promotional organization Paradigm Sports Management, which sued him in June 2021 for wrongful breach of contract. Now the ex-world champion in eight weight categories must pay their huge compensation - $ 5.1 million.

Of this money, 3.3 million is the amount to be returned to the advance paid to the Filipino, and another 1.8 million is a fine for breach of contract. Pacquiao was scheduled to fight four more fights under the Paradigms banner, including one fight against Mikey Garcia.

Instead, Pacquiao decided to try to face Errol Spence, but that fight never materialized. Less than two weeks before the due date, Spence was diagnosed with retinal problems.