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Eight-time boxing champion Manny Pacquiao's wallet will be significantly lighter.
A jury issued a verdict in favor of Paradigm Sports Management in its case against Pacquiao in a case against Pacquiao. Paradigm said that the star boxer failed to disclose the representation agreement he had with TGB Promotions.
The jury ruled 9-3 in favor of awarding $5.1 million Paradigm Sports. Approximately $2 million in attorney will have to also be paid. The civil case was filed in the Superior Court of Orange County, California.
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Manny Pacquiao prepares for a WBA welterweight title fight against Yordenis Ugas at T-Mobile Arena on August 21, 2021 in Las Vegas, Nevada. Ugas retained the title by unanimous decision. (Steve Marcus/Getty Images)
Paradigm stated it is owed around $8 million after the jury's verdict as Pacquiao's legal representatives will likely attempt to have the verdict overturned.
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"The court has scheduled a hearing in June, and there are still legal issues that need to be addressed by the court before the case is fully resolved," Jason Aniel, an attorney for the firm representing Pacquiao, said in a statement.
Manny Pacquiao attends the charity marathon event to provide shelters for the children in the Philippines at City Football Station on May 22, 2022 in Tochigi, Japan. (Jun Sato/WireImage)
Pacquiao announced his retirement in 2021 and last fought in against Yordenis Ugas in August of that year. The bout with Ugas was one of the primary issues of the case.
Pacquiao was originally scheduled to fight welterweight champion Errol Spence, but an injury caused Spence to withdraw. But, Paradigm could not secure an injunction to halt the bout, and it ultimately proceeded. TGB Promotions was presenting the fight.
Aug 21, 2021; Las Vegas, Nevada; Manny Pacquiao (right) fights Yordenis Ugas in a world welterweight championship bout at T-Mobile Arena. (Stephen R. Sylvanie-USA TODAY Sports)
Due to the Pacquiao-Ugas bout, TGB Promotions was named as an interested party in the civil case.
"The reason that Paradigm's attempt to get the injunction failed was, in large part, due to the fact that we had had an ongoing contractual relationship with Pacquiao which predated any alleged contract that Paradigm entered into with Pacquiao," Phil Weiss, legal counsel for TGB Promotions said.
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The lawsuit was initially filed in June 2021. Paradigm Sports also represents UFC superstar Conor McGregor.
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