Fight is off: Mayweather’s money, legal woes kayoes Pacquiao rematch

Less than 24 hours after showing up for workout at his brand-new gym in Hollywood, Manny Pacquiao received news that his proposed September showdown with Floyd Mayweather has been postponed indefinitely.

Mayweather was even supposed to do an exhibition in Greece this weekend and it was also scrapped as representatives of Pacquiao and even Mike Tyson, with whom Mayweather also signed a deal for an exhibition, reached out to the unbeaten American fighter.

Months ago, streaming company Netflix announced that Pacquiao and Mayweather would fight in a rematch.

Weeks later, Mayweather issued a statement saying that what he and Pacquiao would be doing is an exhibition and not a regular fight.

But Pacquiao countered that what he and Mayweather signed up for was a real fight and a circus sideshow.

It could not be determined if Pacquiao, 47, is going to do a fight before the Mayweather matchup in 2027.

But that could be a possibility given that Pacquiao hasn’t been in the ring since August last year in Las Vegas where he drew with Mario Barrios for the world welterweight title.

The first time they fought more than a decade ago, Mayweather ran away with a 12-round unanimous decision at the MGM Grand.

That bout generated at least $600 million in revenue, making it the richest fight in the history of the sport.

But Pacquiao would later reveal that he fought with an injured hand, which prevented him from giving his all.

Lately, Mayweather has been encountering financial problems stemming from tax issues and a rift with his former manager.

After beating mixed martial arts star Conor McGregor in 2017 in a pro fight, Mayweather, 49, has engaged in exhibitions all over the world the last nine years, allowing him to keep his undefeated 50-0 card with 27 knockouts intact.

While it is doubtful that the second meeting will hit monster numbers, their rematch still has that appeal since Pacquiao has a solid fan base and Mayweather’s record will be at risk.