Boxing News 2014: Manny Pacquiao Selling LA House for $2.7 Million

With his next fight still about 6 months away, Filipino boxing champion Manny Pacquiao is taking the lull in training to sell one of his numerous assets - a Hancock Park mansion in Los Angeles, California.

He listed the house, which he purchased for $2.17 million in March 2009, with agent Nick Enciso of Century 21 Classic Estates. The house's price tag is $2.7 million, according to LA Times.

Built in 2008, the Mediterranean-design house features Brazilian teak wood and marble flooring and raised ceilings in 4,273-square feet of living space, including a designer kitchen, formal living room with a fireplace and five bedrooms and full bathrooms.

The outdoors includes a small lawn, pool, spa and waterfall feature. The property is set behind a wrought-iron fence.

Although he earned at least $20 million from his rematch with Timothy Bradley on April 12, Pacquiao is possibly selling the property to settle his tax arrears with the Philippine government estimated at P2.2 billion.

Pacquiao, the richest congressman in the Philippines with assets of P1.3 billion, is disputing the tax liability.

His bout on Nov 23 at The Venetian in Macau, which would possibly have newly crowned WBA featherweight champion and fellow Filipino boxer Nonito Donaire in the undercard fight, will earn Pacquiao a guaranteed purse of $30 million, according to Top Rank Promotions chief Bob Arum.