MANNY PACQUIAO LOSES LAWSUIT FOR BREACH OF CONTRACT WITH PARADIGM SPORTS
Santa Ana, California (May 3rd, 2023)– Manny Pacquiao, the only eight-division world champion in boxing history, has been ordered to pay a sizable sum to Paradigm Sports Management after being found to have breached a contractual agreement.
The management agency represents UFC star Conor McGregor and welterweight contender Stephen Thompson, brought a civil lawsuit against the Filipino boxing legend in mid-2021.
Paradigm accused Pacquiao of concealing a preexisting agreement with a different promotional body when he signed a deal in 2020. While they insisted that Manny had committed to an exclusive two-fight agreement, the boxer’s team claimed that the management organization had already failed to fulfil its own obligations.
Following the commencement of legal action, the agency’s attorney, Judd Burstein, outlined their intention to seek $7-8 million in damages. And following court proceedings, Paradigm hasn’t fallen too far short of a victory to that extent.
Paradigm’s lawyer didn’t hold back with his comments following the verdict, branding Pacquiao’s behavior “disgraceful.”
“It’s always nice to have justice done. Manny Pacquiao’s behavior, in this case, was disgraceful,” Burstein said. “As I told the jury, he’s an extraordinary athlete and has an extraordinary story. However, that doesn’t mean he gets a pass on being a decent human being.
“He signed the contract. He didn’t live up to it. But he took money, likely because he desperately needed it,” Burstein continued. “He was dishonest throughout the process. But he was hiding relevant facts and thinking that he’s had to pay the price for it, which is fair.”
Official press release:
The jury awarded Paradigm $5.1 million in damages against Manny Pacquiao for having breached Paradigm’s exclusive right to negotiate on his behalf by having entered into a secret agreement with TGB Promotions to engage in a bout and by having permitted others, including Sean Gibbons, to hold themselves out as his representatives. In addition to the damages awarded by the jury, Paradigm is entitled to collect 10% annual interest on the verdict amount dating back 3 years, as well as at least $2 million in attorneys’ fees. In sum, Pacquiao will have to pay more than $8 million to Paradigm. The jury also found that Pacquiao had acted in bad faith.
Paradigm’s lead trial counsel was Judd Burstein and the Honorable Judge Walter P. Schwarm presided over the trial, which was held in the Superior Court of California, County of Orange. The original lawsuit was filed June 25, 2021.
Please see below for a quote from Paradigm Sports Founder and CEO Audie Attar.
Statement from Audie Attar, Paradigm Sports Founder and CEO:
“We are elated to learn of the jury’s ruling in Paradigm’s favor in our suit against Manny Pacquiao. The jury plainly found that Pacquiao testified falsely in denying Paradigm’s claims against him, and his excuses for his conduct proves our case that a breach of contract was committed.
We are appreciative of the court’s time and the jury’s careful attention to the facts of this case. Hopefully, Manny will have learned a lesson from the verdict and will henceforth act with the honesty and integrity that was so lacking in his treatment of Paradigm.”
Manny Pacquiao retired in 2021 after losing an unanimous decision to Yordenis Ugás and has competed in exhibitions since then. Pacquiao, 44, has mentioned a possible return to pro boxing in the near future.
What is your opinion on this lawsuit? Share your comments below…
Loading ...
Follow Real Combat Media on Instagram
Follow Real Combat Media on Facebook
Follow Real Combat Media on Twitter
Support Real Combat Media Foundation
Shop at Real Combat Media Fight Store
English
No Comments Yet