Guess how much Pacquiao will earn from Algieri fight

By Bev Llorente, ABS-CBN News North America

Posted at Oct 06 2014 04:37 PM | Updated as of Oct 07 2014 09:30 AM

Manny Pacquiao and Chris Algieri pose at press conference at Hyatt Regency Century Plaza Hotel in advance of World Welterweight Championship bout on Nov. 22. Photo by Kirby Lee-USA TODAY Sports/ Reuters.

LAS VEGAS, Nevada – In just six weeks, the Manny Pacquiao-Chris Algieri fight will take place in Macau, China, and both fighters are gearing up for one of the most anticipated boxing matches of the year.

"It should be a great fight, and I hope Manny is gonna train very, very hard for this fight, because Algieri has the size advantage," said Top Rank chief executive Bob Arum. "He is a very intelligent kid, and he moves very well."

"Manny has to be on top of his game," he added.

In an exclusive interview with Balitang America, Arum also confirmed the boxers' fight purses.

"Manny's purse, from various sources, is guaranteed to be not less than $20 million," said Arum. "But what Chris is getting, that's up to his promoter, but I'm paying him $2.75 million."

When asked about Pacquiao's tax woes, Arum said: "The Philippines has a very good judicial system and Manny went to court in the Philippines and got an injunction against the tax people, because what they were doing was absolutely insane."

"They were taxing him on revenue that didn't exist, and when they asked her what was her theory as for the revenue, she said she read it in the newspaper," added Arum, referring to Bureau of Internal Revenue (BIR) Commissioner Kim Henares.

Arum noted that Henares perhaps didn't realize that there are other expenses and "that the promoter has to get paid."

"What Manny got paid is a public record. Her conduct is, as an outsider, is really disturbing, and I think there's a lot of politics," Arum added.

It was last year when the Bureau of Internal Revenue froze some of Pacquiao's bank accounts, days after the boxer's victory against Brandon "Bam Bam" Rios.

Arum said that although it is inappropriate for him to comment on government officials, he believes that President Benigno Aquino III should take action.

"I think the President should be aware on what's happening and what she's doing, what a loose cannon she seems to be, and take appropriate action," said Arum.