UPDATE: Various reports posted on Pacland, a website dedicated to Manny Pacquiao, indicates that the fight is on.

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By Cedelf P. Tupas
Philippine Daily Inquirer

MANILA, Philippines — A day after promoters declared the fight has been called off after an impasse over the prize money, Filipino icon Manny Pacquiao has agreed to accept the offer to fight British superstar Ricky Hatton on May 2, a report on philboxing.com said.

The report quoting Pacquiao’s close friend and confidante Rex “Wakee” Salud said the Filipino idol was convinced when told that he would receive a $12 million guarantee and 52 percent of the pay-per-view shares.

Eric Pineda, Pacquiao’s business manager, told the Philippine Daily Inquirer that the “other camp has reached out to salvage the fight.”

Pineda, however, stopped short of confirming that the fight was back on track.

“All I can say right now is that there are developments in the negotiations,” he said in a telephone interview.

Pacquiao had been insisting on a 60-40 deal, even though his promoter, Bob Arum, and Hatton’s camp had agreed to an equal split.

This did not sit well with Pacquiao, who did not sign the contract before the Wednesday deadline, prompting Arum and Golden Boy Promotions chief Richard Schaefer to announce that the super-fight between the world’s top pound-for-pound fighter and the king of the 140-pound division had been called off.