Mayweather vs. Pacquiao: Pac-Man and Money Reach Agreement, but Not on Fight

Kevin McRae@@McRaeWritesFeatured ColumnistSeptember 25, 2012

Manny Pacquiao has beaten Floyd Mayweather Jr.—in court, not the ring.
Manny Pacquiao has beaten Floyd Mayweather Jr.—in court, not the ring.Victor Decolongon/Getty Images

UPDATED: 9/25/12 11:13 PM EST

Floyd Mayweather has now released an official statement on the settlement of his civil lawsuit with Manny Pacquiao. The statement reads:

“Floyd Mayweather Jr., Floyd Mayweather Sr., Roger Mayweather and Mayweather Promotions wish to make it clear that they never intended to claim that Manny Pacquiao has used or is using any performance enhancing drugs, nor are they aware of any evidence that Manny Pacquiao has used performance enhancing drugs. Manny Pacquiao is a great champion, and no one should construe any of our prior remarks as claiming that Manny Pacquiao has used performance enhancing drugs.”

Manny Pacquiao and Floyd Mayweather Jr. have finally reached an agreement, just not to fight.

According to reports from's senior boxing writer Dan Rafael, the two sides have agreed to settle a defamation lawsuit filed by Pacquiao after Mayweather publicly alleged he was using performance-enhancing drugs. 

The lawsuit, which was filed by Pacquiao, will be settled out of court. Damages awarded have not been disclosed and will be kept strictly confidential. 

In the suit Pacquiao accused Mayweather of defaming him by making the claims, which Mayweather did not have evidence to back up.

With the settlement of this civil lawsuit, another potential hurdle to a superfight between the world's top two fighters has been cleared. Last week Pacquiao also agreed to accept a smaller share of the revenue from the fight and to submit to stringent drug testing.

Mayweather has not personally responded to Pacquiao's statements, though his long-time advisor Leonard Ellerbe was dismissive when asked. It remains to be seen if any of these developments will bring the long-awaited fight any closer to becoming a reality.

Pacquiao returns to the ring on December 8th against longtime rival Juan Manuel Marquez.

Mayweather, who was recently released from jail, has yet to announce a time-frame for his return to the ring, though it will most likely not be until next spring.