IT'S OFFICIAL: Pacquiao and Mosley at MGM Grand Garden ON MAY 7 2011

Pacquiao and Mosley reach deal on fight at MGM Grand Garden

SOURCE: STEVE CARP

Manny Pacquiao will return to the ring May 7 to face Shane Mosley at the MGM Grand Garden as both sides have agreed to a deal.

Top Rank chairman Bob Arum, who promotes Pacquiao, said he met with Mosley's manager, James Prince, Monday and the two sides reached an agreement late today via phone.

Pacquiao had been considering fights against Andre Berto and a third fight with Juan Manuel Marquez before agreeing to fight Mosley. Their 12-round fight will contested at 147 pounds for the WBO welterweight championship.

Pacquiao (52-3-2, 38 knockouts) has won world titles in eight different weight divisions. His most recent effort was a 12-round rout of Antonio Margarito for the world super welterweight title Nov. 13 in Arlington, Texas. Mosley (46-6-1, 39 KOs) last fought Sept. 18, battling Sergio Mora to a 12-round draw in Los Angeles.

Arum said ticket information and a Pay-Per-View provider for the fight will be announced next month.