Promoter Bob Arum says that Manny Pacquiao has agreed to terms for a May 2 fight with Floyd Mayweather, according to Yahoo Sports.
A matchup of the two world champions is still awaiting Mayweather's approval. Arum told Yahoo Sports that Mayweather's representatives have agreed to the deal but have been unable to get Mayweather's agreement. Nobody from Mayweather's camp has confirmed that Arum's comments are accurate.
On Friday, a boxing authority told the Los Angeles Times that a Mayweather-Pacquiao fight was "making progress." The sides held negotiations on Thursday, and an unnamed official said the talks featured "noticeable progress" and that a deal could be completed in the seven to 10 days after the meeting.
Mayweather sought a split at least 60-40 in his favor, and Pacquiao (57-5-2, 38 KOs) expressed a willingness to meet that.
The parties have already agreed to stage the fight at MGM Grand Garden Arena in Las Vegas, and they’ve also agreed on a drug-testing plan. A date remains unsettled. It's believed the bout is being targeted for May or June.
Mayweather could reportedly make approximately $120 million from fighting Pacquiao. Consequently, the top ticket at the MGM Grand Garden could run $5,000, according to Yahoo Sports. That would allow for the arena to hold a $40 million live gate, which could double the existing record gate of $20,003,150 for the 2013 fight at MGM between Mayweather and Canelo Alvarez.
Mayweather and Pacquiao had finalized a full term sheet in 2010 before a disagreement over drug testing broke the deal.
The last comments on the potential bout from either fighter came from Pacquiao on Nov. 23 after he defeated Chris Algieri in a lopsided welterweight title fight in Macau.
“I think it’s time to make that fight happen,” Pacquiao said at the time. “The fans really deserve that fight. It’s time to say, yes, so people can prepare for early next year.”
- Mike Fiammetta