Manny Pacquiao under IRS tax audit for 2006-2007; bean counter Lodge is mum -- Examiner

By Michael Marley, Examiner.com

Time to trot out the old jokes about accountants who keep two, sometimes three sets of financial books?

Or, to rehash the Muhammad Ali line about either lawyers or accountants when he said he had the Jewish ones keep an eye on the black ones and vice versa?

Not really, as VisionQwest, which is headed by Michael Lodge and is seemingly flexing its bean counter muscles in the business (including boxing) spheres of Pinoy Idol Manny Pacquiao is a respected international accounting firm which is based in Los Angeles but also has offices and operations in the Philippines.

A Los Angeles source/FOP (Friend of Pacquiao) tells me that VisionQwest is currently handling a heavy Internal Revenue tax audit of Pacquiao concerning the tax years 2006 to 2007.

(Please note, it is quite common for wealthy athletes and entertainers, like other high income individuals, to get audited by the federal government.)

I reached out to Lodge to see if he cares to enlighten Paclanders about changes which will be made as to Team Pacquiao, including the reported “axing” of longtime Pacman right hand aide Michael Koncz, but Lodge demurred, as seen below:

“Michael,


Thank you for your e-mail. However, we are under a client confidentiality agreement and we are not allowed to discuss client matters with the media. However, we will make statements from time to time based on a joint understanding with our client when any changes will be made.


We look forward to you continued support and coverage of Manny Pacquiao and thank you for respecting our confidentiality agreement.


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Regards,


Michael L. Lodge


President & CEO”

It’s Lodge’s outfit which reportedly has hired Jose Castillo, formerly associated with world champions Marco Antonio Barrera and the late Edwin Valero, to “review” future Pacman boxing deals.

Well, since I’m lacking any pungent punch line here, let me try this.

Guess who brought VisionQwest in to work on Pacquiao’s financial books in both the US and his homeland?

You got it, the very same Mr. Koncz who denies he’s been canned but who might find his all encompassing Pacman job description changed when he arrives in Manila Thursday morning.

An inflamed source told me Wednesday night that Koncz will hold a one on one sitdown with the eight-time world champion hours after he lands in Manila.

My FOP/LA source says the so-called "press release" announcing a Team Pacquiao shakeup, including the demotion or removal of Koncz, was penned by MP.8 website operator and ex-convict Timothy James Sladeck.

Sladeck has been openly at war with Koncz for several years.

Pacquiao owns a percentage of MP.8, the so-called "official" site for the charismatic fighter, and his lawyer Franklin "Jeng" Gacal also has a financial interest in it.

(mlcmarley@aol.com)

Source: examiner.com

Floyd’s inferno: Don King believes that Mayweather Jr. needs a little guidance -- Examiner

By Chris Robinson, Examiner

During a recent visit to Las Vegas, legendary promoter Don King could be found inside of the Hard Rock Hotel at a press conference stirring up interest for next month’s Joseph Agbeko-Abner Mares bantamweight title clash. Still going strong after forty-plus years connected to the sport, King was talkative as always and also turned his attention to other subplots and headlines in boxing, including the latest with Floyd Mayweather Jr.

Surrounded by myself, Yahoo! columnist Kevin Iole, and BoxingScene.com boss Rick Reeno, King was advised that Mayweather had recently been spotted in Atlanta, Georgia as he made headlines by setting a $100 bill on fire inside of a nightclub. That act from Floyd is one in a long line of many that have drawn him some kind of public ire, one of the reasons he constantly finds himself as one of the sport's most talked-about figures.

Upon hearing the news King was surprisingly out of words, very much a rarity, and simply mumbled that he is going to have to talk to the multi-division superstar. Still, he wasn’t shy on dishing out compliments to the come backing fighter, who is currently lined up with a September 17th date against WBC welterweight champion Victor Ortiz inside the MGM Grand.

“Mayweather is the best fighter in the world, I say that unhesitatingly,” stated King. “I have a great deal of love and respect for [Manny] Pacquiao and everyone else that is out there fighting. I think that Pacquiao’s presence has made such a major difference. But Mayweather is my man.”

A Mayweather fight will always create a special kind of buzz but the fact remains that Floyd has been relatively inactive in recent times, having only fought twice since reemerging from an attempted retirement after his December 2007 fight with Ricky Hatton. That reason alone, says King, could spell trouble for the 34-year old down the road.

“But if you don’t practice your trade, I don’t care how good you are, something is going to fall between the cracks. If you are going to be a great pianist you have to work day after day, month after month, for one concert on one day. You’ve got to practice your trade and he wasn’t practicing his trade and I’m glad to see him back into the fray developing himself and fighting again,” King quipped.

King made headlines last July when he was spotted hanging with Mayweather near his cozy confines in South Florida, as the undefeated star updated his throngs of Twitter followers with pictures of the two men together. Grinning ear to ear, King and Floyd could be seen enjoying lobster, flashing money, and most likely talking some kind of business with one another, a fact all the more interesting because just weeks earlier Mayweather had seen a second round of reported negotiations for a potential fight with Pacquiao again fall through.

And what exactly did King get to know about Floyd from their time alone with one another?

“He’s a very stand up guy, but you’ve got to know what he’s standing up for," King continued. "He’s a guy that stands up and he takes the criticisms of his actions. He needs a little guidance, a little help. You what I mean? He is a guy who will stand up for his convictions. Once he makes up his mind and if you help him to make it up on the right thing, you couldn’t get a better guy than Mayweather.”

As our time came to a close I threw one last question King's way as I asked if he felt that Mayweather was in some way intimidated or even jealous of all the attention that Pacquiao had gotten in recent years, specifically dating back to his December 2008 battering of Oscar De La Hoya as he began an improbable trek against bigger, dangerous foes. Not so, says King, who fully believes that Mayweather's future lies in his own two fists and that it is up to him what road he will end up taking.

“Well, all artists want to be up there in the light. That’s what they do. But I don’t think he is because he could have corrected that. Jealousy is when you are inhibited or you are restrained from doing it. He didn’t have to do anything but say ‘Yes’. It was his own self-confinement, his own self-discipline. I don’t think it’s jealousy. I think he just needs some guidance that he can rely and depend on. Because everyone he relies on, all of them sell him out.”

Chris Robinson is based out of Las Vegas, Nevada. He can be reached at Trimond@aol.com

Source: examiner.com