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Manny Pacquiao, the Filipino boxing icon, yesterday ended all the anxiety when he decided to stick it out with Solar Sports and honor a valid, binding and legal contract that covers the local television rights for his May 2 fight with Ricky Hatton and all his future fights until 2011.

Solar Sports came out with a statement saying everything’s okay between them and Pacquiao who announced last Wednesday that he has rescinded their contract and that he has decided to switch back to ABS-CBN as his official media partner.

But Pacquiao had a change of heart.

“After a thorough study and weighing of things, it was proven that my contract with Solar Sports is valid and binding and was not violated by anyone,” said Pacquiao in his own statement read by his lawyer, Franklin Gacal.

“I whole-heartedly apologize for all the confusion on where my coming fight against Ricky Hatton would be shown (in the Philippines). It was a result of miscommunication between Solar Sports and MP Promotions,” added his statement that was read in Filipino.

“Solar Entertainment Corporation, Manny Pacquiao and MP Promotions, are happy to announce that in the spirit of utmost good faith, the parties have favorably resolved their unfortunate misunderstanding,” the Solar Sports statement said.

“Manny and MP Promotions have agreed to honor the television rights agreement and fully comply with the terms and conditions therein. Accordingly, MP Promotions and Manny Pacquiao have withdrawn in writing their rescission letter dated March 17th, 2009.”

Solar Sports president Wilson Tieng and chief operarting officer Peter Chanliong flew to Los Angeles the other night, and met boxing’s biggest star in his posh La Palazzo apartment Friday (LA time) to thresh our their problems.

“We are happy that now he can concentrate on preparing for his fight with Ricky Hatton on May 3 (Manila time) to be shown on GMA-7 and Solar Sports. Preparation for the fight should be his priority,” the Solar statement added.


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