Pacquiao dares Solar to show financial records

Posted at 03/21/09 12:49 AM

Filipino boxing idol Manny Pacquiao challenged Solar Entertainment to show him its complete financial records to prove that the company has fulfilled all its financial duties due to him.

In his latest letter to Solar Pacquiao said: “While you claim this statement to be true, you have yet to show me Solar's complete financial records pertinent to all my previous fights.”

Solar’s legal counsel Enrique de la Cruz said his client will produce its financial records in court.

"Manny should have asked for financial records before he rescinded the contract. His latest letter only shows that his claim for unpaid fees has no basis. By asking for the records now, it can be deduced that he intends to invoke the contract to recover other fees," de la Cruz told ABS-CBN through text message.

Pacquiao has decided to rescind from his contract with Solar after the latter reportedly failed to settle its dues in proper time. He renewed his ties with ABS-CBN Broadcasting Corp., which previously aired some of his fights locally.

“The partial payment made yesterday (March 16) is proof of the undue delay by Solar in the performance of its obligations,” he said in a letter addressed to Solar.

In a press conference Friday, Solar reiterated that it has settled its dues with Pacquiao.

“The 25 percent is given on March 16, but even before March 16 and after the contract with the fight promoter was signed, there has been so many other cash advances more than was required to be given to Manny under the contract,” said de la Cruz.

When asked to detail its payment scheme with Pacquiao, Solar Entertainment gave copies of its License Agreement to the media who attended the press conference.

A check by ABS-CBN revealed that the payment details were omitted from the copies distributed.

“Wala tayong control sa pagbibigay na ‘yan. Hindi kami ang nag-release ng contract na ‘yan,” de la Cruz explained.

Top Solar execs to meet Pacquiao

Top executives of Solar Entertainment will be flying to Los Angeles, California in an effort to thresh out its differences with Filipino boxing icon Manny Pacquiao.

Solar Sports’ president Wilson Tieng and his Sports chief operating officer Peter Chanliong said they will meet with the General Santos native this weekend to settle the issue.

The Solar execs are expected to convince Pacquiao to honor the remaining two years of their contract or even propose a settlement that could lure back the boxer to the entertainment corporation.

Pacquiao said he is looking forward to settle the issue. “Ang alam ko lahat ng problema maso-solusyunan at napaguusapan ‘yan,” he said.

He, however, said his decision to transfer to ABS-CBN remains the same.

“My decision is still the same. Sana panoorin nila ang fight ko May 2nd on ABS-CBN,” said Pacquiao.

abs-cbnNEWS.com is the online news department of ABS-CBN Interactive Inc., a subsidiary of ABS-CBN Broadcasting Corp.


View more