Why Pacquiao is selling LA mansion

ABS-CBN News

Posted at Aug 26 2013 05:49 PM | Updated as of Aug 27 2013 02:29 AM

MANILA, Philippines – Filipino boxing icon Manny “Pacman” Pacquiao has revealed the reason for selling his mansion in Los Angeles – they are planning to buy another house.

“Binebenta lang namin ‘yung bahay namin sa America, kasi gusto naming bumili ng bahay sa Beverly (Hills), ‘yung may gate,” Pacquiao said.

Pacquiao noted that the Los Angeles house has been victimized by robbers. In September 2011, four people were arrested after detectives saw the Pacquiao mansion being robbed. The boxer was in the Philippines at the time.

“Open kasi ‘yung bahay,” Pacquiao explained. “Nanakawan na ‘yun.”

Realtor.com said the house was being sold for $2.7 million, meaning Pacquiao can make a $630,000 profit as the boxer purchased the house for $2.17 million back in 2009.

The house was featured in an episode of MTV’s “Cribs” in December 2010. – With a report from Dyan Castillejo, ABS-CBN News