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Source: Pacquiao agrees to 50-50 split

Updated: December 7, 2009, 12:02 PM ET
By Dan Rafael | ESPN.com

Manny Pacquiao has signed a contract to fight Floyd Mayweather Jr. in boxing's biggest fight on March 13, a source with knowledge of the meeting told ESPN.com on Friday night.

Pacquiao and promotor Bob Arum met for two hours Friday to discuss the proposed deal, according to Pacquiao adviser Michael Koncz, who told The Associated Press that "Manny has some additional requirements, requests, which Arum didn't think was a problem.

"The requests of Manny were so realistic that ...

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