Pacquiao agrees to Mayweather’s terms, says Arum

MANILA, Philippines – Top Rank CEO Bob Arum revealed that Manny Pacquiao has agreed to the terms which were presented to him by Floyd Mayweather Jr. for a 12-round encounter on May 2 (May 3 in PH) at the MGM Grand Garden Arena in Las Vegas, Nevada.

The 83-year-old promoter disclosed the details to Yahoo Sports’ Kevin Iole, asserting that Mayweather’s representatives have likewise given a thumbs up to the deal but have not been able to get boxing’s pound-for-pound king’s approval as of the moment.

“I’m not trying to force anybody’s hand. I’m just saying, ‘Hey, we’ve agreed to everything, period. The people we have talked to on Mayweather’s side have agreed to everything. Now, we need Mayweather to step up and say, ‘Yeah, I’m on board. I agree,’” Arum said.

Meanwhile, Mayweather’s side has not verified whether Arum’s claim is accurate or not, according to the same report.

There have been dialogues between Pacquiao and Mayweather in the past, but for several reasons, the talks always collapsed.

The first negotiations in 2009 fell through after Mayweather demanded Pacquiao to go through random blood testing up to the official weigh-in, which was initially turned down by the Filipino boxing icon.

Mayweather offered Pacquiao $40 million for the fight in 2012, but the American refused to give the latter a share of the pay-per-view revenue, which was viewed as unfair by the Pinoy pugilist.

With the potential to break pay-per-view and gate attendance records, the Pacquiao-Mayweather showdown has long been considered as the richest bout that can be made in the sport.

“I’m not going to put a deadline on there. I’m just going to hope that everybody does the right thing and we get this concluded. It would be really sad if we went through this stuff again like we did before,” Arum quipped.

The negotiations for the super-fight between Pacquiao and Mayweather took a major leap this week as both camps agreed to stage the highly-anticipated clash at MGM Grand’s 16,800-capactiy venue.

However, an MGM spokesman reportedly pointed out that there was no arrangement for the marquee match-up to take place at the Grand Garden as far as his knowledge is concerned.

Aside from the location, the two parties also accepted the drug testing protocols to be followed for the bout as Pacquiao and Mayweather are likely to undergo random screening.

Pacquiao was quoted in a recent report, stating that the heavily-hyped confrontation against Mayweather could be announced before the end of the month.

It appears that Pacquiao and Mayweather have agreed to face each other on the aforementioned date, with a 60/40 purse split that would favor the unbeaten American boxer.

In order to cover the sky-high salaries that Pacquiao and Mayweather will earn, ticket prices will be blown up at an all-time high as the most expensive seat inside the MGM Grand Garden Arena is expected to be worth $5,000.

A $40 million live gate reception is likewise projected as the bout would most likely double the current attendance record of $20,003,150, which was set in September 2013 by Mayweather and Saul “Canelo” Alvarez.

Still standing as the crucial point of the negotiating period would be securing the pay-per-view network partner as the 37-year-old Mayweather maintained on numerous occasions that that the fight should be broadcasted on Showtime, while Pacquiao is hooked with HBO.

“I want to get some movement here, with bringing Mayweather to the table so we can go out and get everything signed and get the networks together and get the thing finished,” Arum stressed.

– Rappler.com