Just a week after being ordered by the Court to pay $114,000 in legal fees for failing to appear at a deposition, it appears that Floyd Mayweather, Jr. has reached a settlement with Manny Pacquiao. A pretrial agreement noted that the boxers are in the process of settling the defamation case brought by Pacquiao in December 2009. Pacquiao filed suit alleging that Mayweather accusing him of using performance-enhancing drugs.
The terms of the settlement are confidential. However, a statement released on behalf of the Mayweathers noted that they “wish to make it clear that they never intended to claim that Manny Pacquiao has used or is using any performance-enhancing drugs, nor are they aware of any evidence that Manny Pacquiao has used performance-enhancing.”
Boxing fans have been waiting for a Mayweather/Pacquiao bout for years and it is hoped that resolution of the suit will see the two fighters move their conflict out of the courts and into the ring. Nevada State Athletic Commission chief Keith Kizer estimated that such a high profile bout could garner attendance proceeds to the tune of $20 million.