Boxer Manny Pacquiao of the Philippines trains during a media workout in Hong Kong October 27, 2014. Pacquiao is on tour ahead of defending his WBO World Welterweight title on November 23 against Chris Algieri of the U.S. at the Venetian's Cotai Aren
Boxer Manny Pacquiao of the Philippines trains during a media workout in Hong Kong October 27, 2014. Pacquiao is on tour ahead of defending his WBO World Welterweight title on November 23 against Chris Algieri of the U.S. at the Venetian's Cotai Arena in Macau. REUTERS/Tyrone Siu

It is official. Manny Pacquiao has agreed to all the terms in the proposed super fight with Floyd Mayweather, Jr. including USADA Drug testing, boxing gloves type, fight purse, pay-per-view splits, and all other essential details to the match. The eight-division world champion has also agreed upon the May 2 date and the venue of the boxing match, the MGM Grand in Las Vegas, Nevada.

Top Rank through its Vice President Carl Moretti declared that their talent has agreed to all the terms on their side and now it is up to the Mayweather camp to make the fight happen. No word has come out of that side of the camp yet, but this is the closest in five years that the fight is within the realm of possibility.

"Top Rank and Manny have agreed to the terms on our side. I don't know about the other side," Moretti told ESPN Tuesday.

The terms that Pacquiao agreed upon include a 40 percent take on all of the gains from the fight purse, pay-per views, gate receipts and all other income from the fight. He has also agreed to the type of gloves to wear with each fighter being given the free hand to select their own brand of 8-ounce gloves. The long perceived debacle of Olympic style drug testing is also beneath pacquiao's camp as Pacman has even agreed to be subjected to the United States Anti-Doping Agency, which has administered the drug testing procedures for Mayweather fights in recent years.

The American boxer has been the first to come out to say that he prefers the May 2 or Cinco de Mayo date. Top Rank was supposed to hold another blockbuster match on the said date with Miguel Cotto and former junior middleweight champion Canelo Alavarez but the appeal of the fight of the century could not be held back.

Top Rank President Bob Arum also clarified that the boxing outfit is not putting the pressure on Mayweather's camp to agree to terms as he has been mum on the other details of the deal. He re-iterated that they were not putting a deadline on the inking of the terms and are just crossing their fingers that negotiations will not follow the same tragic path it took in 2009.

"I'm not going to put a deadline on there. I'm just going to hope that everybody does the right thing and we get this concluded. It would be really sad if we went through this stuff again like we did before," Arum told Yahoo Sports.

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