Pacquiao now waiting on Mayweather to agree to terms…
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Manny Pacquiao and Top Rank have agreed to terms for a May 2 bout against Floyd Mayweather, according to Top Rank vice-president Carl Moretti.
“Top Rank and Manny have agreed to the terms on our side. I don’t know about the other side,” Moretti said, ESPN reports.
While there has been no comment from Mayweather’s camp, Moretti insisted that as far as they are concerned all that is now left to do is to wait for the green light from their rivals.
Top Rank chairman Bob Arum has been negotiating the bout for the past couple of months and although they are awaiting an agreement between the two fighters, they must also negotiate a deal between the broadcasters with both Showtime and HBO likely to want to air the bout live.
Nevertheless, according to a source involved in the talks, Pacquiao has agreed to a 40 percent cut of the revenue leaving Mayweather with the remaining 60 percent of a fight that most believe will be the highest grossing bout in the history of boxing.
Reports last week suggested that a venue, the MGM Grand Garden Arena, has already been agreed on and that they will move forward with May 2 despite the fact that Miguel Cotto and Saul ‘Canelo’ Alvarez are expected to face off on the same night as part of the Cinco de Mayo weekend.
Top Rank appear to have given in on that demand as they have been promised other aspects in their favour in return, while according to the Pacquiao side, drafted contracts have already been made and now they are awaiting Mayweather’s attorney to come forward with any issues.
Pacquiao’s camp suggest that the drug-testing, gloves and various other aspects have been agreed on and so now they edge closer to making the fight that fans have been waiting for since 2009.
Mayweather (47-0, 26 KOs) must now accept his side of the deal as Pacquiao (57-5-2, 38 KOs) will play the waiting game, while Showtime and HBO will need to thrash out an agreement on a joint pay-per-view broadcast much like they did for the heavyweight title bout between Mike Tyson and Lennox Lewis back in 2002.