Pacquiao: Fight is near

Pacquiao, who is a member of the Philippine House of Representatives for Sarangani province, was speaking to reporters during a break in parliament.

Pacquiao has won ten world titles in eight divisions, the first (and so far only) boxer to do so.

He said: "(The fight) is near. The negotiations are nearly finished.

"We agreed that this fight has to happen. We are ironing out the kinks. He (Mayweather) said he wants the fight to push through."

The Filipino star also revealed he has agreed to all of Mayweather's drug testing stipulations, after Olympic style testing stymied negotiations a few years ago.

Pacquiao added: "We agreed to their demand. In fact, I suggested a $5-million fine if I test positive for drugs."

Earlier this week Mayweather told TNT that nothing has been signed yet but that he is keen to make the fight happen. He said: "I haven't signed yet, and he hasn't signed yet, you know. It's just been speculations and rumors, but hopefully we can make the fight happen."