BOXING: Mayweather-Pacquiao Update

Regarding a report by the London Telegraph that the superfight between Floyd Mayweather and Manny Pacquiao was a done deal, which was picked up and reported by many major media outlets, Showtime Sports boxing exec Stephen Espinoza took to Twitter to issue a flat-out denial. TMZ also famously jumped the gun a few weeks ago with a premature report.

REPORT

The two have been locked in years of negotiations, but a deal for a showdown on May 2 has reportedly finally been agreed by both parties.

Reports suggest that Manny Pacquiao has completed his contractual agreements for the Las Vegas megafight with Floyd Mayweather, and the pound-for-pound king is set to do the same in the coming days.

The American could even confirm the fight at the NBA All-Star Game, which will take place in the early hours of this morning.

The scrap is pencilled in to take place on May 2 at the MGM Grand in Las Vegas, and will be worth an astronomical £162million - making it the richest fight in history.

The Sunday Telegraph quote a source close to the Filipino as saying: “Manny has 100 per cent signed his side of the deal. It is now over to Mayweather to close the deal and announce the fight.”

Talks had stalled between the two before they met at an NBA game in Miami last month, where they exchanged phone numbers and met for an hour at a hotel in the city.

It is understood that Mayweather's adviser, Al Haymon, has secured a 60 percent cut of the revenue for his fighter, with Pacquiao, 36, having agreed to a 40 percent cut.

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