In his first public interview regarding the topic, Top Rank Promotions CEO Bob Arum dismissed a widely reported notion that Manny Pacquiao had fired his longtime business advisor, Michael Koncz.
"No, it's all bullsh*t. I know someone who has talked to Manny, and it's all nonsense. It's all a made up story," said Arum. "Up until a few hours ago, when I talked to [Filipino reporter] Ronnie Nathanielsz, who called me after he had dinner with Manny last night, I didn't know what to say. Now I do."
Arum said that Nathanielsz spoke to Pacquiao at length about the rumors, which at least one member of Pacquiao's camp said were true.
"I know who started it, but I'm not going to tell you. I know why they started it. There are a lot of these people are looking to get rid of Michael so that they can feather their own nest," said Arum.
"Ronnie Nathanielz had dinner with Manny last night, and said that Manny laughed it off and laughed up a storm about it," said Arum. "So it's all baloney. Ronnie said that Manny called it 'a bunch of hooey.'"
A partner in Pacquiao's MP Promotions, Koncz has been labeled by others, including some of Pacquiao's own camp members, as being a crook.
"But that's not true. Michael is very valuable and he's a guy who looks out for Manny 100 percent. My feelings about Michael are that he's got Manny's best interest at heart. He accounts for every nickel, and he chases us to make sure that every nickel is paid," said Arum.
"If some of these people who are after Michael came in to replace him, it wouldn't work, because I'm not going to do anything — particularly at my age — to jeopardize myself by doing something that is not appropriate," said Arum. "I want to make sure that Manny gets every penny that he's entitled to, and the only way to make sure is to make sure that he has honest representation. Michael has demonstrated to me that he provides honest representation."