Pacquiao-Mayweather agree on $250 million fight – report

MANILA, Philippines (UPDATED) – Manny Pacquiao and Floyd Mayweather Jr. have reportedly agreed on terms for a May 2 fight that will likely end up as the richest fight in boxing history, according to a report by respected boxing reporter Gareth Davies in The Telegraph. 

Pacquiao has “completed his contractual agreements,” according to a source cited from within Pacquiao’s camp, and is now waiting for Mayweather to sign off on his end and announce the fight.  

The terms include a 60/40 split in Mayweather’s favor of a combined $250 million pot, which would earn Mayweather $150 million and Pacquiao $100 million. The teams have also agreed to wear 8-ounce gloves, with both sides to undergo random pre- and post-fight drug screening with the United States Anti-Doping Agency. 

The fight will take place at the MGM Grand in Las Vegas.

The report comes one day after the eight-division champion Pacquiao, who is back in the Philippines following a three-week trip to the United States and England, told a news agency that the fight is on and is just awaiting Mayweather’s signature. He announced on his Instagram account that he is spending time with his family before returning to training. 

Mayweather’s side has been quiet, as the fighter is preoccupied hosting celebrity parties for the NBA All-Star weekend in New York. However, a source within Mayweather’s camp tells Rappler to “expect some news soon.” 

While the Telegraph report says the fight could possibly be announced during the NBA All-Star game on Sunday (Monday Manila time), Lance Pugmire of the Los Angeles Times says that fans can “stand down through the weekend.” 

“Yes some things are signed by [Manny Pacquiao] but some revisions remain,” tweeted Pugmire. And ultimate act is [Floyd Mayweather] signing and announcing on [Mayweather-endorsed social media app] @Shots.”

“Even the most cautious in this deal agree the fighters are ‘very close.’”

Mayweather, when confronted by a New York Daily News reporter at the All-Star festivities on Sunday Manila time, said “Is this a boxing match? I’m at an all star event. Please respect my privacy. I don’t want to answer any questions.”

Showtime sports executive Stephen Espinoza, however, has shot down talks of signed contracts, tweeting “Not sure what anyone is signing since no agreement has been finalized yet.”

The complex negotiations between the sports two most celebrated fighters have involved the highest branches of their respective television networks, with CBS CEO Les Moonves leading the talks for Mayweather-aligned Showtime and HBO CEO Richard Plepler negotiating for the Pacquiao side.

The joint pay-per-view event will be similar to the Lennox Lewis vs. Mike Tyson heavyweight championship fight, which the two rival networks worked together on in 2002. Coincidentally, Pacquiao fought in one of the preliminary bouts that night, knocking out Jorge Eliecer Julio in two rounds. – Rappler.com