MANILA, Philippines – Boxers Floyd Mayweather Jr. and Manny "Pacman" Pacquiao are in the process of settling their long-running defamation case in Las Vegas, according to a report from the Associated Press.
Pacquiao filed a defamation case against Mayweather in Las Vegas in December 2009 after the American boxer accused him of using performance enhancing drugs. The case also involved Mayweather's father, Floyd Sr., as well as his uncle and trainer, Roger.
But AP reported that the two boxers "are settling a federal defamation case in Las Vegas, clearing a key hurdle to a long-awaited bout between two top fighters."
Boxing Scene was able to obtain a copy of the Stipulation of Dismissal with Prejudice, which was filed by Pacquiao's lawyer, David Marroso.
"All claims against all parties... are hereby dismissed with prejudice," according to the order.
"Plaintiff Emmanuel Pacquiao hereby dismisses with prejudice his defamation claim against defendants Floyd Mayweather Jr., Mayweather Promotions, Floyd Mayweather Sr., and Roger Mayweather," it added.
"Defendant Floyd Mayweather Jr. hereby dismisses with prejudice his defamation counter-claim against Emmanuel Pacquiao."
In an interview with RingTV, Pacquiao's advisor, Michael Koncz confirmed that the case has been settled.
"Manny is happy to put this matter behind us and to move forward," Koncz said. "However, I am not obliged to make any further comments as there is a strict, confidentiality agreement with the court."
Meanwhile, Mayweather Sr.'s lawyer, Malcolm La Vergne told AP that his client "is very happy that this lengthy case has finally come to a conclusion."
Last week, it was revealed that a Nevada judge had ordered Mayweather to pay Pacquiao over $100,000 in legal fees after the American boxer failed several times to attend a court-ordered deposition.
In the order, however, it was noted that "each party shall bear its own attorneys' fees and cost."
Neither side would comment on what the settlement would mean for a potential Pacquiao-Mayweather clash, however.
AP said that LaVergne "had no information about whether the court settlement means Mayweather and Pacquiao will meet in the ring."
Top Rank chief executive Bob Arum, Pacquiao’s promoter, told RingTV that the settlement was "totally irrelevant to any boxing issue."
"They've arrived at a settlement, apparently, and that's good. It's better than to have both parties keep running up legal fees," he added.
"I think that they were each represented by very good attorneys, and they realized what the situation was, and what the exposure was, and they settled the case."
The defamation case is among the key issues that have prevented a Pacquiao-Mayweather mega-fight, which is expected to be the richest fight in the history of the sport.
The two boxers’ camps have consistently failed to come to an agreement about the fight, with negotiations falling apart over issues such as the financial split and random blood and urine testing.
Mayweather was released from jail early August after serving around two months for a domestic violence charge. His jail sentence came after defeating Miguel Cotto last May 5 via unanimous decision to hike his record to 43-0.
Pacquiao, meanwhile, is coming off a highly controversial loss to American Timothy Bradley last June. He will return to the ring on December 8 against his greatest rival, Juan Manuel Marquez.