Pacquiao's decision to buy a new Ferrari car worth at least US$225,000 runs counter to earlier news that the eight-division boxing champion is running out of cash due to cost of lawsuits, IRS dues and bad investments.
Dr. Ed de la Vega, who broke the news this weekend, said the new Ferrari, now parked at the Filipino champion's apartment unit at the Palazzo in downtown Los Angeles, is colored gray, Nick Giongko of Bulletin Today
Pacquiao has a wide array of expensive cars which he usually buys whenever he is in California during major fights. Among the high-end cars he uses while moving around Los Angeles, Las Vegas and the Philippines include a Porsche, Lincoln Navigator, Escalade, Mercedez Benz and other SUVs which his escorts use for official functions in line with his work as congressman in the Philippines.
Ferrari 458 Italia is a mid-engined sports car made by Italian Sports car manufacturer Ferrari.
The 458 series replaces the Ferrari F450 and uses technology derived from the company's Formula 1 experience. It was first unveiled at the 2009 Frankfurt Motor Show.
The Ferrari 458 Italia is powered by a 4.5 L V8 engine and can accelerate from 0-100 km/h in under 3.4 seconds. It has a top speed of 325 km/h with fuel consumption of about 21.2 mpg.
Pacquiao will face Mexican Juan Manuel Marquez for the third time
since they fought in 2004 which ended in a draw and the second in 2008 with Pacquiao winning via split decision.
In both fights, Marquez has claimed he was the winner but was cheated in the scoreboards.
The Pacquiao vs. Marquez fight will take place at the MGM Grand Garden Arena in Las Vegas, Nevada on November 12, 2011.