Fans are eagerly waiting for the upcoming showdown between Floyd Mayweather Jr. and Manny Pacquiao on May 2 at MGM Grand Arena in Las Vegas, but the highly anticipated fight is reportedly in jeopardy.

Top Rank Promotions CEO Bob Arum told ESPN that the contract for the fight is still not signed with less than two weeks before the fight, which is expected to become the richest bout in boxing history.

Arum said that he got a draft of the contract on April 15, but he did not sign the sheet because the terms indicated were not what they agreed with Mayweather Promotions and MGM earlier this year.

Based on the original agreement, Arum claimed that all parties, including Top Rank Promotions, would be signatories to the final contract, but the draft sent on April 15 does not include them. Arum said that Top Rank will not have any say on the fight promotions and other fight details if he will sign the draft sent to him.

"They don't want us to have any say," Arum said. "So whether they came up with the deal between Mayweather and MGM before or after our agreement, they've committed fraud either way. That's what we're enmeshed in."

Arum said, though, that boxing fans have nothing to worry about because the fight will not be called off, contrary to speculation that the contract dispute will eventually lead to cancellation of the Pacquiao-Mayweather showdown. The famed promoter believes Nevada officials will make sure the fight will push through.

"MGM is licensed by the gaming commission," Arum said. "They can't do this type of subterfuge and keep their license. If they don't do anything, the governor will step in and make this fight happen."

Mayweather Promotions CEO Leonard Ellerbe also guaranteed the fight will happen and took a swipe at Arum for his recent comments on the contract. Ellerbe said that they did not change the original terms of the fight and that Arum just cannot accept the fact that he cannot be in control of the bout.

"The bottom line is that Bob isn't willing to live with the agreement signed a couple months ago, which doesn't allow him to be in control," Ellerbe said. "The only conspiracy, in my opinion, exists with him trying to conspire with his lawyers to change the terms of the agreement."

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