Mayweather-Pacquiao was nearly done in 2010

If Manny Pacquiao and Floyd Mayweather Jr. never fight, there at least appeared to be a time when the two boxers -- considered to be the sport's two pound-for-pound best -- were extremely close to facing off in 2010, according to a report by Yahoo!Sports.

According to the report, an eight-page contract was sent on Dec. 11, 2009, by Golden Boy Promotions on behalf of Mayweather to Top Rank, representing Pacquiao, that proposed a 50-50 financial split between the sides for a fight to take place on March 13, 2010.

Under the contract, The fight was to be billed as "Mayweather vs. Pacquiao," be televised on HBO Pay Per View for $59.95, and be presented by Top Rank, Golden Boy Promotions, Mayweather Promotions and M-P Promotions.

The negotiation called for Pacquiao to step onto the weigh-in scale first, walk into the ring first and be introduced second, while Mayweather would be introduced first and have the first choice of a locker room.

The negotiations failed, according to Yahoo!Sports, when Pacquiao's side declined the contract offer because he objected to Mayweather's request for the drug testing.

Although Pacquiao has since stated that he will agree to Mayweather's demands for random blood and urine testing, the sides have not been able to reach an agreement on a deal.

"The only issue was that we asked for the drug testing to take place 14 days before the fight, and everybody agreed on that except Mayweather. So that's why the fight fell apart. The 50-50 split was never in dispute," said Arum.

"It's only come in dispute now that Manny has agreed to unlimited testing. So it's just an excuse. We're not asking for a bigger split, but 50-50. Or if you want, which we're agreeable to, 45-45 with the other 10 percent going to the winner."

As it stands now, Mayweather (43-0, 26 KOs), holder of the WBC's welterweight and junior middleweight belts, begins an 87-day jail term on June 1.

Pacquiao (54-3-2, 38 knockouts), meanwhile, will pursue his 16th straight win and his ninth stoppage during that run in defense of his WBO welterweight belt opposite WBO junior welterweight titleholder Tim Bradley (28-0, 12 KOs) on June 9 at the MGM Grand in Las Vegas.

Click here to view the entire Yahoo!Sports report.