Mayweather vs. Pacquiao: Bob Arum Hints Contract Dispute Puts Fight in Jeopardy

Sound the alarms because the highly anticipated May 2 bout between Manny Pacquiao and Floyd Mayweather Jr. may be in jeopardy.

In an exclusive report by Yahoo's Kevin Iole on Wednesday, Pacquiao's promoter, Bob Arum, explains that there's no contract between MGM resorts and the promoters.

When asked whether that jeopardizes the fight, Arum stated the following:

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Fight? We've got nothing. They're [the MGM] going around saying, 'The fight, the fight, blah, blah, blah,' but they got nothing. They have no contract. Nothing. We haven’t even seen a draft. … What is happening now is absolutely intolerable. For the MGM to think that everything is resolved and so forth, when nobody has even discussed terms, is the most insane thing ever.

"

Oh dear. Talk about a cataclysm for boxing fans—and even for those with a vague interest in seeing two of this generation's best fighters finally square off at MGM Grand Garden Arena in Las Vegas mere weeks from now.

However, Iole reported late on Wednesday that Arum did indeed receive a contract proposal:

Leonard Ellerbe, the CEO of Mayweather Promotions, told Iole prior to the latest contract development that Arum was blowing the whole absent contract saga out of proportion:

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This is typical Bob. He has in his possession a draft term sheet with all the deal points. I have been in communication with him and have updated him every step along the way on what is going on and getting his feedback, etc.

I think he's a terrific promoter, and I want you to write that, if you will. He is without a doubt, a great promoter. But he's also known for erupting when he doesn't get his way and the reality is setting in that he's not the lead promoter.

"

Arum said that ticket allocation and the amount of rooms MGM plans to provide for Pacquiao's camp are the major issues he has with the alleged absence of a contract.

It's no secret that the superfight is slated to take place in Las Vegas, Mayweather's preferred venue—as Ellerbe noted—so perhaps Arum's perception that there will be some favoritism toward his opponent's camp may have some legs.

On the other hand, this public scrutiny from Arum threatens to alienate MGM resorts, provide a source for further conflict between the Mayweather and Pacquiao camps, and thus potentially put the fight in jeopardy.

The bout ought to produce more than an ample amount of money and accommodations for both sides. So much is at stake from a legacy standpoint for both Mayweather and Pacquiao that it would be a shame for something to impede what would be one of the biggest events in boxing history.