Bob Arum
Bob Arum had created a panic situation after stating that no contract existed between MGM resorts and promoters.Reuters

Boxing fans around the world were worried over the fight of the century at the MGM Grand in Las Vegas between Floyd Mayweather and Manny Pacquiao after it reportedly hit a snag. But, CEO of Mayweather Promotions, Leonard Ellerbe allayed those fears, insisting the fight will happen according to schedule.

The panic situation was brought about by Pacquiao's promoter, Bob Arum, who said no contract exists between the MGM resorts and the promoter.

"They (the MGM) are going around saying, 'The fight, the fight, blah, blah, blah,' but they got nothing," Arum told Yahoo. "They have no contract. Nothing. We haven't even seen a draft.

"What is happening now is absolutely intolerable. For the MGM to think that everything is resolved and so forth, when nobody has even discussed terms, is the most insane thing ever."

With around only three weeks remaining for the mega fight to take place, such kinds of situations only disturb the boxers, who have been undergoing serious training with their respective trainers.

For the bout between the two to be made official, both the Mayweather and the Pacquiao camp sweated it out a few months ago with plenty of dialogue.

It seems the main issue with Arum is that he (or his team) has not received tickets or the hotel rooms, but, Leonard Ellerbe insisted that the fight is not in jeopardy and Arum will get everything he requires in due time.

"The tickets were physically just delivered to the MGM today," Ellerbe told the Review-Journal.

"Bob's going to get his tickets and his hotel rooms. That's all been specified in the contract as to how many tickets and rooms Top Rank and Pacquiao gets, how many tickets and rooms Floyd gets and how many tickets the MGM gets. Bob knows that."

"The fight's not in jeopardy.

"We have a separate deal with the venue which we've negotiated, and everything with the site is separate from the contract the fighters signed. Everyone knows what everyone's supposed to get."

So, with this confirmation from Mayweather promotions, boxing fans around the world can again dream of seeing these boxers meet on 2 May. The bout is expected to shatter all box office records that exist in boxing history.

The tickets price for the mega event has already hit the roof with prices ranging from $1500 to $7500. Irrespective of the price at place, expect the venue to be jam packed, for such a fight happens very rarely in a lifetime.