HBO Sports president Ken Hershman told a group of boxing...

HBO Sports president Ken Hershman told a group of boxing writers during his introductory news conference at HBO's Manhattan office that the back-and-forth between Manny Pacquiao and Floyd Mayweather has become an obstacle to making other bouts. Credit: Getty Images

A report today on indicated that Floyd Mayweather Jr. and Manny Pacquiao have agreed to terms for their long-awaited fight. But a source with knowledge of the situation told Newsday: There's no deal. The fight is not signed."

In fact, the headline on did not agree with the story, which said: "The deal still needs to be approved by Mayweather." In other words, there's no deal until everyone signs off. Top Rank promoter Bob Arum, who represents Pacquiao, said Mayweather has until mid-July to agree to a deal before Pacquiao will be forced to find another opponent for his Nov. 13 date on HBO.

"This really depends, as I see it, on whether Mayweather wants to fight [Pacquiao]" Arum was quoted by "By mid-July, he's either in or out. We're not going to wait forever. We're going to have a fight on Nov. 13 and we would love it to be Mayweather."

In other words, there really has been no dramatic change in negotiations between the two fighters over the past two months since Mayweather won a unanimous decision over Shane Mosley. The sides have not agreed to terms. Although HBO Sports president Ross Greenburg has worked behind the scenes to bring all sides together quietly, no announcement of an agreement is imminent despite bogus headline claims to the contrary.

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