Pacquiao agrees to terms for Mayweather bout

According to Dan Rafael of espn.com, the long awaited much anticipated mega battle between Manny Pacquiao and Floyd Mayweather could be closer to happening as reportedly Pacquiao agreed to all terms of a proposed contract.

Pacquiao and Top Rank, his promoter, have agreed to terms for a May 2 bout, Top Rank vice president Carl Moretti told ESPN.com on Tuesday night, although Mayweather has not yet agreed to terms and it remains to be seen if he will.

“Top Rank and Manny have agreed to the terms on our side. I don’t know about the other side,” Moretti said.

According to a source involved in the negotiations, Pacquiao has agreed to a 40 percent cut of the revenue, leaving Mayweather with the remaining 60 percent of a fight most believe will shatter every boxing box office record, including the all-time pay-per-view buy record of 2.4 million (Mayweather-Oscar De La Hoya), the pay-per-view revenue record of $150 million (Mayweather-Canelo Alvarez) and the all-time gate record of $20 million (Mayweather-Alvarez).

If the fight is finalized, it would take place May 2 at the MGM Grand Garden Arena in Las Vegas, Moretti said. Mayweather has had his past 10 fights there, and Pacquiao has had five of his past seven bouts there.

However, Moretti said Pacquiao (57-5-2, 38 KOs), 36, who has subjected himself (and his opponents) to random testing by the Voluntary Anti-Doping Association for his recent bouts, has gone so far as to agree to use the United States Anti-Doping Agency, which has randomly tested Mayweather (and his opponents) for years.

“I think that Manny agreed to USADA testing shows you his eagerness to make this fight,” Moretti said.