Manny Pacquiao's highly anticipated rematch against Floyd Mayweather will not take place in September as planned.
What happened?
The fight's postponement is due to ongoing lawsuits and legal issues.
Jas Marthur, CEO of Manny Pacquiao promotions, explained that the issues stem from improper contract structuring and advances paid to Floyd Mayweather.
Why it matters for Manny Pacquiao
The postponement affects Manny Pacquiao's return to the ring, as the rematch was expected to take place in September.
Floyd Mayweather's business manager negotiated with CSI, presenting the fight as Mayweather's return to pro boxing against Manny Pacquiao.
What comes next?
The new date for the rematch has not been announced, but it is expected to be pushed back due to the ongoing legal issues.
Manny Pacquiao's fans will have to wait longer to see their champion back in action.
The situation is complex, with multiple parties involved and conflicting interests.
Jas Marthur stated that CSI originally purchased an exhibition fight for Floyd Mayweather against Mike Tyson, but later negotiated for the sanctioned fight against Manny Pacquiao.
The advances paid to Floyd Mayweather were substantial, but the distribution of the funds is unclear.
Floyd Mayweather's loan out entity, Frist Apex Ventures LLC, received the funds, but it is unclear how much of the money actually went to Mayweather.
The situation is still unfolding, with more information expected to come out in the coming days.
Manny Pacquiao's team is working to resolve the issues and get the fight back on track.
The postponement is a setback for Manny Pacquiao, but his fans remain hopeful that the fight will take place soon.
The exact date of the rematch is still unknown, but it is expected to be announced once the legal issues are resolved.