Loreto cries foul over unpaid prize money

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Current International Boxing Organization (IBO) light flyweight champion Rey Loreto’s camp elevated their concern to the Games and Amusement Board (GAB) over the champ’s unpaid fight purse together with fellow Filipino fighter Jetly Purisima in their recent bouts in Eastern Cape, South Africa.

Loreto, who won via a technical knockout in his title defense against South African Nkosinathi Joyi during the first round of their match last March 23, was supposed to collect a prize money amounting to $42,000 while Purisima, despite losing to Sinethemba Magibisela to a decision after 10 rounds, was to receive a $4,000 reward, according to their promoter Manny Piñol.

Piñol, CEO of Sonshine Sports Management and the person who handled the two Pinoy pugs in their recent African conquest, has sent a prayer to the government through the GAB, asking them to intervene over the case.

In the formal communication of the promoter to GAB chairman Ramon Guanzon, the camp presented the facts of the situation that Piñol described as a “clear case of deceit”.


Piñol claimed that the “IBO supervisor is also not entirely blameless because his consent to a delayed payment of the IBO sanction fees was perceived as a gesture of confidence on the reliability of the promoter to keep his promise.”

The facts presented stated that South African organizer Siphatho Handi of Mamali Productions contracted the two boxers but during the day of the weigh-ins, the foreign fight maker explained that the specified payment of the prize would be delayed.

Piñol added that he immediately notified Loreto and Purisima of the current circumstances of the fight but the two nonetheless agreed to push through with it as “the boxers obviously had no choice but to agree.”

Also, Handi issued a promissory note in the presence of representatives from the IBO, the Eastern Cape Provincial Government and Boxing South Africa in accordance with the delayed payment of the total amount of $45,000.

The promise to pay contained the agreement between the parties that the total amount shall be transferred to the account of Piñol after the determined date of maturity of the obligation on March 29.

After two extensions asked by Handi to Piñol to extend the deadline of payment, the amount is still left unpaid and the latter is now asking the government to help them in pursuing those who are accountable.

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