Pacquiao, Mayweather agree on record P10-B mega-fight  — report

Filipino boxing icon and Sarangani Rep. Emmanuel "Manny" Pacquiao and Floyd Mayweather Jr. may finally bring their years-long word war to the squared circle for a whopping P10.9 billion, a UK news site reported Sunday (PHL time).

UK's The Sunday Telegraph cited a source close to Pacuiao as saying both camps have agreed on a $250 million (£162 million) deal, with the fight likely on May 2.

Sunday Telegraph quoted its source as saying Pacquiao "completed his contractual agreements on Saturday," and Mayweather is "set to sign" in the coming days.

“Manny has 100 percent signed his side of the deal... It is now over to Mayweather to close the deal and announce the fight," Telegraph Sport quoted its source as saying.

Pacquiao and Mayweather met some weeks back at a basketball match in Miami, and talked for an hour in Pacquiao's hotel suite.

Both parties agreed that MGM Grand Garden Arena in Las Vegas would be the venue of the fight, The Telegraph added.

Talks for the fight had been on and off due to "complex" issues behind the scene.

Earlier, Pacquiao said a deal has been hammered out for him to fight Mayweather. "Oo, positive na... Pirma na lang," he said when asked if he would fight Mayweather next.

But Pacquiao added Mayweather's camp will make the announcement for the fight.

Agreements

The Telegraph said the Pacquiao side indicated the teams have agreed on the policy for the eight-ounce gloves they will wear, and pre- and post-fight drug testing.

It said the US Anti-Doping Agency will be tapped for random drug-testing, and the Nevada State Athletic Commission will oversee other matters. — Joel Locsin/LBG, GMA News