Arum, Showtime’s Espinoza say Pacquiao-Mayweather not a done deal

Floyd Mayweather Jr. and Manny Pacquiao. INQUIRER file photo.

MANILA, Philippines—Top Rank honcho Bob Arum and Showtime Sports head Stephen Espinoza have denied reports that the megafight between Manny Pacquiao and Floyd Mayweather Jr. has been finalized.

Celebrity news website TMZ broke the news on Saturday morning (Manila time) that the Pacquiao-Mayweather fight was a “done deal.”

“Floyd Mayweather has agreed to fight Manny Pacquiao … multiple sources tell TMZ Sports … who say the two finally came to an agreement moments ago,” TMZ wrote.

But in an interview with the New York Daily News, Arum said there were still “issues” that needed to be resolved.

“No, I’m aware of the report, but there are still some contractual issues to work out,” Arum told New York Daily News. “It’s close but not done yet.”

“TMZ usually has good sources, this time not so much,” Espinoza wrote on his Twitter account.

Espinoza also said that the possible bout, which will likely be the most lucrative fight in boxing history, was far from being done.

“These series of reports that the fight is done is completely baffling to us,” Espinoza told Rick Reeno of boxingscene.com. “This deal is not close to being done—and everyone involved knows that. Top Rank’s lawyers have said that there are significant open issues, so I don’t understand how Bob can conceivably be saying the fight is imminent and will be closed within the next couple of days.

“The bottom line remains the same that it has been for the last couple of weeks—we are continuing to work hard to make a deal. We are continuing to make progress, but there are meaningful open issues. We can’t celebrate getting two-thirds across a minefield. You celebrate when you completely cross and you are clear of danger. Right now we are still in the minefield,” Espinoza said.

Pacquiao and Mayweather had an unplanned meeting on Wednesday (Manila time) when the top two pound-for-pound fighters today coincidentally attended the same NBA game in Miami, Florida. Mayweather went to Pacquiao’s hotel suite later in the day to continue their talks about their possible showdown.

The possible remaining hurdle is that an agreement has yet to be made between the two opposing networks Showtime and HBO.

Mayweather still has a couple more fights left for Showtime while Pacquiao is still under contract with HBO.