Until it’s signed, Mayweather-Pacquiao fight deal not ‘done’

A deal in the Floyd Mayweather Jr.-Manny Pacquiao fight negotiations might be close to happening, but it’s not guaranteed yet. That would require two signed contracts.

So, despite a TMZ report headlined “DEAL DONE, Fight Set,� that wound up some about boxing’s long-awaited fight, the deal for a May 2 bout at MGM Grand Garden Arena in Las Vegas is not yet official.

Showtime Executive Vice President Stephen Espinoza, who’s working with HBO to negotiate a joint pay-per-view broadcast of the fight, told the Los Angeles Times on Friday night that he’s still working to bridge open issues.

“You don’t celebrate walking across a minefield when you’re two-thirds of the way through it,� Espinoza said.

After Mayweather and Pacquiao ended up sitting across from each other courtside at a Miami Heat game this week, the pair met privately in Pacquiao’s suite and are believed committed to making happen a fight that has been talked about since 2010 -- with many failed negotiations serving as proof that only signatures seal it.

The positive strides have the fighters at the brink of a deal, but officials close to the network talks said not to expect an announcement during Super Bowl weekend.

The contracts are voluminous compared to standard fight deals. Mayweather-Pacquiao should be the richest fight in history, capable of reaching 3 million pay-per-view buys.

Espinoza was asked whether his assessment of two-thirds across the minefield should be altered to seven-eighths, given the recent positive developments.

“I’m conservative,� he said.