Manny Pacquiao and MP Promotions USA Inc had signed an extension contract to retain the firm of VisionQwest Resource Group, Inc. and VisionQwest Accountancy Group out of Los Angeles, California to handle all accounting, personal and business tax, audits and examinations, as well as all contract reviews. Contract reviews will be done during the course of contract negotiations and prior to any signing by Manny Pacquiao and MP Promotions USA Inc. to insure that there is a thorough understanding of all contracted financial aspects and tax issues, and that the agreements protect Manny’s potential earnings. VisionQwest reports directly to Manny. VisionQwest is currently examining all contracts from 2005 and going forward
This will no longer be the role of the Business Advisor. This decision was made by Manny to create a stronger management team to run his financial and contractual affairs, to enhance future fights and to build MP Promotions into a stronger business unit. It was felt that in building a solid business and fight management team that highly talented and trained individuals were needed to be brought into the organization that have experience in the boxing industry, contractual negotiations and business skills to handle tax and accounting issues. With this new change in leadership and management it sends an aggressive signal to everyone involved that Manny has made it clear that it is time to run his boxing career and business concerns with an experienced and aggressive team.
Over the past few months Manny has already started to review team members that bring value to the organization and to terminate those that have hindered the advancement of his overall goals and objectives. This move enhances the overall performance of Team Pacquiao.
VisionQwest provides Manny with a solid team of management and financial accountants and tax professionals with the experience that Manny needs. VisionQwest has also retained the services of a strong boxing business professional who has a solid background in fighter management and negotiations and who will be very involved in all contract reviews through the VisionQwest organization. Over the next few weeks VisionQwest will advise Manny on other changes that need to be made within the organization to strengthen Manny’s business concerns.