The announcement came a week after Floyd's uncle Roger Mayweather spoke over a radio program, 'The Boxing Truth' about the alleged statement of Mayweather, Jr saying he was taking one to two years off from boxing.
The controversial announcement created firestorm in the boxing community that have waited so long for the fight the fans wanted to see.
The Boxing Truth.com
"Up until now, it's been a very difficult negotiation process for various reasons but right now we're very close."
"We're very close in finalizing the contracts that were once very complicated. The two fighters now realize that this fight must be made. It has to be made because the boxing fans want to see it happen and right now it's the biggest fight that can be made in the world."
"It's going to be a big, BIG fight!"
"I think right now we are very, very close in finalizing the contracts. I can't talk right now in detail about the negotiations but I will say that we are very close."
The much talked about Pacquiao-Mayweather match was originally scheduled to take place last March 13 in Las Vegas, Nevada. But due to disagreements on drug testing protocols, the fight was called off with the two popular boxers later taking different opponents.
Pacquiao kept the March 13 date but took on Joshua Clottey of Ghana instead while Mayweather fought Shane Mosley last May 1. Both boxers won via a unanimous decision.