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Manny Pacquiao, Floyd Mayweather Jr. finally agree to mega-fight

IT took more than half a decade to make the fight of this generation.

Floyd Mayweather Jr. set aside a bitter rivalry Friday by announcing that he and Manny Pacquiao have signed to fight each other. The world’s top two pound-for-pound boxers are scheduled to square off in a welterweight title unification bout May 2 at MGM Grand in Las Vegas.

A long-awaited date pitting the rapid-moving defensive tactician Mayweather (47-0, 26 knockouts) against the powerful and super-conditioned southpaw Pacquiao (57-5-2, 38 KOs) will be televised on pay-per-view by both Showtime and HBO, and is considered a slam-dunk to become the most lucrative bout in boxing history.

NBC, manager Al Haymon start new boxing series NBC, manager Al Haymon start new boxing series Ringside seats will sell for $5,000. The pay-per-view price has not been set but could reach $100.

The contrasting personalities of the fighters ? Pacquiao, 36, the polite congressman in his native Philippines and Mayweather, who’ll turn 38 on Tuesday, the brash, cash-flaunting celebrity ? were evident in their reactions to sealing the deal.

“I’m very happy this five-year saga has come to an end,” Pacquiao said in a statement read by his business manager. “The fans all wanted and deserved this fight and I’m happy we’re giving it to them. It is an honor to be part of this historic event.”

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Said Mayweather: “Sports fans around the world will witness greatness on May 2. I am the best ever, ‘TBE,’ and this fight will be another opportunity to showcase my skills and do what I do best, which is win. Manny is going to try to do what 47 before him failed to do, but he won’t be successful. He will be number 48.”

Mayweather will earn 60% of the purse, Pacquiao 40%.

Pacquiao was surprisingly knocked out by Juan Manuel Marquez in 2012, while Mayweather kept winning and kept his record perfect.

Pacquiao’s willingness to take a smaller cut of the purse, Mayweather’s interest in pursuing the bout,plus the involvement of an effective mediator in Leslie Moonves, chief executive of CBS Corp., allowed this fight negotiation to succeed. Other efforts to put together a Pacquiao-Mayweather bout unraveled over drug-testing and purse differences, along with deep personal dislike between the two sides.

Floyd Mayweather Jr., Marcos Maidana CAPTION Floyd Mayweather Jr., Marcos Maidana Ethan Miller / Getty Images Floyd Mayweather, right, battles Marcos Maidana during a WBC/WBA unification bout at MGM Grand in Las Vegas on May 3, 2014. Mayweather is considered one of the most successful boxers in the history of the sport. CAPTION Floyd Mayweather Jr. Al Bello / Allsports Floyd Mayweather Jr. celebrates his victory over Augustine Sanchez at the U.S. Olympic Box-offs in Augusta, Ga., on April 20, 1996. CAPTION Floyd Mayweather Jr. Hans Deryk / Associated Press Floyd Mayweather Jr. looks on as he awaits a decision by the judges following a pre-Olympic tune-up bout against Russia’s Viacheslav Smirnov in Miami on June 17, 1996. Mayweather went on to win a bronze medal in the 1996 Atlanta Olympic Games. CAPTION Floyd Mayweather Jr., Serafim Todorov Rick Bowmer / Associated Press USA’s Floyd Mayweather Jr., right, fight’s Bulgaria’s Serafim Todorov during their 57-kilogram class semifinal at the 1996 Atlanta Olympic Games. CAPTION Floyd Mayweather Jr. Paul Morse / Los Angeles Times Floyd Mayweather Jr. reacts after losing to Bulgaria’s Serafim Todorov in the 57-kilogram semifinals at the 1996 Atlanta Olympic Games. Mayweather turned pro after the 1996 Olympics and was promoted by Bob Arum, who is now Pacquiao’s promoter. In 2006 Mayweather and Arum split up and the boxer aligned with powerful manager Al Haymon, who didn’t do business with Arum. The pairing of Mayweather and Haymon led to a certain amount “of mistrust,” Arum said.

Until now.

Moonves, whose Showtime cable network signed Mayweather to a six-fight, 30-month deal in 2013, successfully brought Arum and Haymon together. One of the talks was a meeting with Arum and Haymon at Moonves’ home.

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“Part of the thing that was helpful was that we’re the network of Floyd Mayweather, and I also have a very good social relationship with Bob Arum,” Moonves told The Times. “One of the reasons that propelled me to push for this as a pure boxing fan was that the whole world of boxing would’ve been disappointed if these guys didn’t have this fight. I can’t wait.”

Arum and Showtime executive vice president Stephen Espinoza said Moonves’ presence was the key to brokering the deal.

“The persistence of Les Moonves got everyone talking rationally,” Arum said. “Very savvy guy, people inherently trust him, and his presence allowed us to concentrate on core issues. People around this started acting like adults. Myself included.”

There was no rematch clause inserted in the contract that Mayweather signed Thursday, before he posted a photo of the final signed page of the cumbersome document Friday in announcing the deal on social media.

Manny Pacquiao CAPTION Manny Pacquiao Wally Skalij / Los Angeles Times Rated as the best pound-for-pound boxer in the world, Manny Pacquiao was already called the best boxer in the 2000s. At the age of 35 with a record of 56 wins, five losses and two ties, Pacquiao shows no sign of slowing down. CAPTION First punch on American soil Laura Rauch / Associated Press Pacquiao’s professional boxing career started in 1995 and he boxed primarily in the Philippines until 2001. In his 2001 debut in the United States against Lehlohonolo Ledwaba of South Africa, Pacquiao won by TKO in six rounds. CAPTION Losing his featherweight title Eric Jamison / Associated Press Before facing Mexico’s Erik Morales in March 19, 2005, in Las Vegas, Pacquiao had not lost since September 1999. Morales won by unanimous decision to take the WBC international super featherweight title. CAPTION Another shot at Morales Jed Jacobsohn / Getty Images Ten months later, Pacquiao faced Erik Morales again. Pacquiao knocked Morales out in the 10th round. It was the first time Morales was knocked out in his boxing career. CAPTION Winning the lightweight title belt Eric Jamison / Associated Press Pacquiao trades punches with David Diaz during their WBC lightweight championship boxing match June 28, 2008, in Las Vegas. Pacquiao won by knockout in the ninth round. MGM Resorts’ sports book established Mayweather as nearly a 2-to-1 favorite in the bout.

Now that the fight has been made, Espinoza was quick to dispel the long-held theory by many in boxingthat Mayweather would always avoid Pacquiao, whose knockouts of Ricky Hatton and Miguel Cotto in 2009 triggered interest in a Pacquiao-Mayweather super-fight.

“Floyd has defeated 20 world champions over his career, so nobody can seriously question his commitment to taking on a challenge,” Espinoza said. “And as long as Floyd has been with Showtime, he’s continually expressed a sincere desire to fight Manny Pacquiao. A victory would leave no unanswered questions about Floyd’s position among the all-time greats in the sport.”

Mayweather’s advisor, Leonard Ellerbe, said, “Floyd loves the matchup. He’ll be able to dictate what happens in the fight, and he’ll show everyone why he’s the best fighter in the world.”

Pacquiao’s trainer, Freddie Roach, has been breaking down Mayweather fight film since November, when Pacquiao knocked down then-unbeaten Chris Algieri six times in Macao.

“Floyd should enjoy being the ‘A’ side while he can because on May 2 Manny is going to put him on his backside,” Roach said.

Arum has long insisted that Mayweather in the past urged matchmakers to keep him away from fast southpaws like Pacquiao.

“My guy is really going to give Mayweather a lesson in the ring, either by stopping him or by decision,” Arum said. “Win, he will.”

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