Announcement expected this week on Mayweather-Pacquiao

The lengthy negotiations to try to make the megafight between Floyd Mayweather Jr. and Manny Pacquiao are almost over, and the boxing world should know this week whether the two will meet May 2 at the MGM Grand Garden or face different opponents.

A source close to the negotiations who did not want to be identified said Saturday the two sides are close to a deal and only a few items remained to be negotiated. He would not say what those items were.

But Top Rank chairman Bob Arum confirmed that the negotiations are in their final stages.

“I’m very optimistic,” Arum said Saturday. “We’re waiting to hear from Floyd. But from everyone’s perspective, it needs to get resolved this week. You have to start planning things, and there’s a lot that has to be done.”

The Telegraph newspaper in London reported Saturday that the two sides had agreed to a deal. Arum and Showtime Sports vice president Stephen Espinoza said the report was inaccurate.

“Not yet (finalized),” Espinoza said.

Mayweather is in New York this weekend for the NBA All-Star Game. There has been much speculation that he would break the news on the fight during the league’s All-Star Weekend via the various social media platforms he endorses.

But with a couple of items still to be negotiated, it probably won’t be until early in the week that any announcement will come from Mayweather.

■ BACK WITH TOP RANK — As expected, Las Vegas junior lightweight Diego Magdaleno has renewed his contract with Top Rank.

Magdaleno, 28, has been with the promotional company since he turned pro in 2007. His contract expired in November, and a three-year deal was negotiated.

I never wanted to leave Top Rank,” said Magdaleno, who expects to move up to lightweight at some point. “They’ve been a part of my life from the start of my career, and I’m very happy to have them continue to serve as my promoter.”

Top Rank vice president Carl Moretti said: “It’s great to have Diego re-sign, because 2015 is going to be a great year for Diego in both the lightweight and the junior lightweight divisions. We plan to announce his next bout shortly.”

Magdaleno, who is trained by Joel Diaz, is 27-1 with 11 knockouts.

■ ANNOUNCERS SET — When Premier Boxing Champions launches its series on NBC on March 7, a familiar voice will be at the microphone.

Marv Albert will be the blow-by-blow announcer when Robert Guerrero and Keith Thurman square off at the MGM Grand Garden on a card that also features Adrien Broner against John Molina Jr. Working with Albert will be Hall of Fame boxer Sugar Ray Leonard.

Albert is no stranger to the sport, having called fights on NBC from 1980 through 2003. He has worked three Olympics.

“I’m so thrilled to be part of boxing’s prime-time return to NBC, where I’ve had the good fortune to have been ringside for the call of so many exciting moments,” Albert said in a statement.

PBC also announced its announcer for its telecasts on Spike TV. Scott Hanson will call the monthly cards, which begin March 13 in Ontario, Calif., with Andre Berto facing Josesito Lopez and Shawn Porter meeting Roberto Garcia.

“I want to capture the essence of the upsets, the shocking moments, the sudden turn of events with one swing of a fist,” Hanson said in a statement. “That’s what boxing, in its purest form, can reveal to us time and time again, so I hope we get some moments like that on Spike’s coverage of the PBC.”

Contact reporter Steve Carp at scarp@reviewjournal.com or 702-387-2913. Follow him on Twitter: @stevecarprj.