Manny Pacquiao vs. Ricky Hatton Back on for May 2 in Las Vegas

In news that should come as a surprise to absolutely no one, the Manny Pacquiao vs. Ricky Hatton fight is back on, with two of the best and most popular boxers in the world ready to meet in the ring on May 2 at the MGM Grand in Las Vegas.

Hatton and Pacquiao had both indicated this week that the fight was off because they couldn't agree on a split of the revenue, but as we noted on Wednesday, Pacquiao vs. Hatton was just too big to fail.

It would have made no sense at all for either party to walk away from these negotiations, because as long as Floyd Mayweather is retired, neither boxer could make nearly as much money against another opponent as they can make against each other.

Promoter Bob Arum told ESPN that Pacquiao's guarantee of $12 million for the fight -- certainly more than he'd make against other potential opponents, who lack Hatton's drawing power -- will be enough to get the contract signed.

"Manny has assured me that he has signed the contract and was going to announce it to the Filipino press," Arum said. "I think everyone [on Pacquiao's negotiating team] finally came to the realization of where we are in the world and where this economy is."

Pacquiao is widely regarded as the best pound-for-pound boxer in the world, and he'll be favored to beat Hatton, who is the world junior welterweight champion. Hatton, however, will have the crowd on his side, as he's popular enough in his hometown that easily 10,000 people will travel from Manchester, England to Las Vegas to fill the MGM Grand to watch the biggest boxing match of the year.