Boxing Promoter Demanded 1 Million Dollars from Manny Pacquiao

A Texas boxing promoter is agonizing over a dilemma whether to bring to court his idol, Manny Pacquiao, for breach of contract.

This, as excitement continues to rise among boxing fans worldwide for the Pacquiao-Margarito fight on November 13.

Edmundo Lozano of Imperial Ed Promotions sent Pacquiao a demand letter asking him to pay at least $1 million as refund for promotional expenses, including that of the $100,000 he advanced shortly after the contract was signed last July 28, 2010.

Pacquiao was supposed to be the honored guest in several bicentennial activities, one of which was an appearance at a Hispanic title boxing match.

Pacquiao’s visit was covered by a $200,000 contract entered into between the boxer and Imperial Ed Promotions.

Two weeks before the scheduled event here, Michael Koncz, Pacman’s US-based adviser, flew to McAllen to personally explain why the Filipino boxer cannot come. He, however, promised during a press conference that Pacquiao would definitely honor his commitment after the November 13 fight in Dallas. – ABS-CBN

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