Issues remain before Pacquiao-Mayweather fight can be finalized

Although Manny Pacquiao has agreed to Floyd Mayweather Jr.’s terms for a megafight May 2 at the MGM Grand Garden, there are still details to be finalized.

Last week, Top Rank chairman Bob Arum, who promotes Pacquiao, said the sides had reached an agreement that his fighter approved of and that they were waiting for Mayweather to give his OK. But, according to Stephen Espinoza, executive vice president and general manager of Showtime Sports, some issues still remain, the biggest of which is who will televise the fight.

Showtime, which has a deal with Mayweather, and HBO, which works with Pacquiao, have been trying to work out a mutually suitable arrangement. But no agreement has been reached as to which network will show the fight on pay per view.

“The two networks have a congenial relationship, but each network has its own financial objectives,” Espinoza said.

The Pacquiao and Mayweather camps have orally agreed on the purse split, 60-40 in Mayweather’s favor, the May 2 date and the Grand Garden as the venue. They also have agreed to use the United States Anti-Doping Agency for the prefight drug testing protocols.

Espinoza said Mayweather is very much aware of what is going on regarding the negotiations.

“Floyd is more motivated than ever to get this fight done,” Espinoza said. “We at CBS/Showtime are equally motivated. I think Bob was trying to put some pressure on Floyd, but the truth is you don’t need to put pressure on Floyd. He truly wants this fight. He and (manager) Al (Haymon) talk two, three times a day. So Floyd’s very aware of what’s going on.”

Arum met with Pacquiao on Thursday in Los Angeles.

“I explained everything to Manny, and he’s comfortable with everything, including Plan B if this doesn’t work out,” Arum said.

When asked what Plan B might entail, Arum said: “I’m not going to get into that. Right now, our focus is on Mayweather. We’re waiting on him.”

Both sides acknowledge the clock is ticking.

“It’s in all parties’ interest to get this resolved as soon as possible,” Espinoza said. “Rather than say there’s a drop-dead date, I would look at it more as we’re running a race, and what’s important is crossing the finish line.

“If we don’t cross the finish line, it doesn’t matter how close we are. But I can tell you there’s still a lot of race to be run.”

Contact reporter Steve Carp at scarp@reviewjournal.com or 702-387-2913. Follow him on Twitter: @stevecarprj.