Mayweather and Pacquiao sign May 2nd fight

LOS ANGELES, CA – After five years of anticipation and speculation, finally, it’s a done deal. Manny Pacquiao and Floyd Mayweather will meet May 2nd in the ring at the MGM Grand Hotel in Las Vegas for an earth-shattering $180 million, the biggest single sporting event purse in history.

Mayweather will receive the lion’s share of $100 million and Pacquiao will get 40% of the revenues generated, expected to be between $60 and $80 million. But with the anticipation and hype this fight will generate, that could end up being substantially more.

Tickets for the live event begin at $1,500 for the cheap seats and $7,500 for ringside.

Mayweather was uncommonly quiet and respectful of Pacquiao at the official media conference. They announced that the promoters and the combatants had reached an agreement at 2 p.m. on Wednesday in LA.

Last week, former Canadian Heavyweight Champ George Chuvalo was in New Credit and was asked what he thinks of the Pacquiao/Mayweather matchup.

“I know Manny a little bit and I like him, but if I had $100 to put down, I’d bet on Mayweather,” he said.

Pacquiao’s prompter, the legendary Bob Arum, is excited about the upcoming fight, but when asked if this is the biggest fight ever, he draws a line, saying the first Mohammed Ali versus Joe Frasier fight, if promoted with the same electronic media that Mayweather and Pacquiao will get, would have been even bigger.

Either way, it is the most anticipated fight of the decade.

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