(UPDATED) The world-title clash between Manny Pacquiao and Argentinean world champion Lucas Matthysse in Kuala Lumpur on July 15 is reportedly being hounded with financial issues.

ESPN’s Dan Rafael reported that MP Promotions, working on the bout in association with Golden Boy Promotions, has missed several deadlines to fund various aspects of the fight.

“An initial payment of $500,000 was made to the Golden Boy/Matthysse camp when the fight was signed, but the rest of the money for their side — $2 million, according to a source — is more than a month past the deadline for when it was supposed to be deposited into an escrow account to hold the money until after the fight takes place,” wrote Rafael in his report to ESPN.

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Rafael also reported that Pacquiao’s MP Promotions also missed deadlines to deposit funds needed to cover production costs of commercial spots and other aspects of the bout.

The Pacquiao-Matthysse fight was initially going to be an ESPN pay-per-view event.

In a message relayed to ABS-CBN News, Arnold Vegafria, business head of MP Promotions, said "the fight is on."

"Everything is being arranged and on schedule . . . Both Pacquiao and Matthysse are training hard in their respective camps to give the fans that will be viewing the fight all over the world an action-packed, competitive battle," he said.

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