Manny Pacquiao of the Philippines celebrates after defeating Miguel Cotto of Puerto Rico during their WBO welterweight title fight on November 14, 2009 at the MGM Grand in Las Vegas, Nevada. (AFP)

MANILA, November 16, 2009 (AFP) - Philippine boxing hero Manny Pacquiao stands to earn tens of millions of dollars in endorsements as firms at home and abroad rush to link themselves with the charismatic champion, observers say.

The nation celebrated on Sunday when Pacquiao, 30, took the World Boxing Organization welterweight title by stopping Puerto Rican Miguel Cotto, becoming the first fighter to win seven world titles in seven weight classes.

"For sure, he is going to get more offers for commercial endorsements. It will also raise his talent fee a lot," said Yoly Ong, president of Campaigns and Grey, a major advertising firm in the Philippines.

Pacquiao, who only began boxing to help raise money for his destitute family, had already become fabulously wealthy before the Cotto bout.

He was recently listed by Forbes magazine as the world's sixth highest paid athlete, earning $40 million in the 12 months from June last year -- more than tennis star Roger Federer.

While a big chunk of that money came from his fight pay packets, a significant amount was also due to his status as one one of the most marketable celebrities in the Philippines.

He endorses a dizzying array of products in the Philippines -- including high-end watches, shampoo and milk -- while he also stars in a TV sitcom and has appeared in feature length movies.

But the run-up to the Cotto fight brought him unprecedented global attention.

This included a cover story for Time magazine's Asian edition and a guest slot on a popular US late-night TV talk show where the ever-smiling "Pacman" performed a skit and sang with the band.

Then he went on to dominate Cotto in a devastating performance that confirmed to many that Pacquiao was truly the best pound-for-pound fighter in the world.

"This propels him to a whole new level. This could make him the leading celebrity endorser in the country," said David Guerrero, chairman of BBDO Guerrero/Proximity Philippines, one of the country's leading advertising agencies.

Bigger things may also be awaiting him abroad.

"He can really be an international endorser right now. He could do a VISA type of campaign like Jackie Chan," said Ong, comparing the boxer to the Hong Kong movie star who did a series of successful commercials for VISA credit cards.

Guerrero agreed this was a possibility.

"Some of the other Asian movie or sports stars have become popular outside their home countries," says Guerrero, citing Chinese basketball star Yao Ming.

Foreshadowing this is Pacquiao's relationship with Nike, the American sports clothing and apparel giant.

Although his advertisements for Nike have not aired overseas, they have already had an impact regionally, according to Ian Mullane, a British boxing promoter based in Singapore.

"Every one of my boxers wants to wear the Nike shoes that Pacquiao wears," Mullane told AFP.

"Adidas (a rival company) used to get all the orders for boxing shoes. But since Nike has taken on Pacquiao as an endorser, it has made an enormous difference."

Guerrero, however, cautioned that Pacquiao's appeal had its limits.

"Boxing is not considered a mainstream sport in many countries. It does not receive as much coverage as other sports like baseball, football or even Formula One racing," he said.

Pacquiao also has bigger plans that could conflict with his sporting career and marketing potential -- he is planning to run for a congressional seat in the southern Philippines in national elections in May next year.

It is one area where he has tasted defeat. Despite his widespread popularity, he lost to a veteran politician in his first bid in 2007.

Ding Marcelo, sports editor of the Manila Bulletin, one of the country's major newspapers, said Pacquiao would again face a well-entrenched opponent, but said

his phenomenal boxing achievements since 2007 could make a difference.

Marcelo said Pacquiao's popularity may have made him overconfident the first time around.

"People were thinking 'everything he wants, he gets.' Then he was surprised when he lost," he said.

"Maybe he will be more prepared this time. He is already more famous."