Pacquiao agrees to terms of fight with Mayweather

The super fight that has been years in the making appears to be on the verge of finally happening. 

Manny Pacquiao (57-5-2) has reportedly agreed to the terms for a May 2 fight with Floyd Mayweather (47-0), according to Kevin Iole of Yahoo Sports. 

Iole notes that Mayweather's representatives have also agreed to the deal, but have yet to receive the fighter's approval. 

"I want this fight to actually happen," promoter Bob Arum said. "I want everybody to make a lot of money on the fight. I want the public to be satisfied. And I think it will be a terrific event. That's what I want, and I've done everything in my power to make that happen.

"I think Manny has been very reasonable and demonstrated that he wants the fight to happen. Now, we're waiting on Floyd. That's not to say that Floyd has been obstinate, that Floyd won't do it, but we're waiting on him."

Mayweather is expected to command 60 percent of the purse, according to the Los Angeles Times. Iole believes that figure could be worth close to $120 million.

Pacquiao last fought two months ago, retaining the WBO welterweight title in a unanimous decision win over Chris Algieri. 

Mayweather collected his 47th career win by beating Marcos Maidana in September.