Mayweather agreed to terms for the welterweight title bout on Tuesday, multiple sources with knowledge of the negotiations told ESPN.com.
The proposed date is March 13, although there is a chance it could move to May 1, sources said. Mayweather, according to a source close to him, is OK with either date.
The site for Pacquiao-Mayweather remains up in the air. There is interest from Dallas Cowboys owner Jerry Jones to bring the fight to his new stadium. There is also interest from venues in Las Vegas, including the MGM Grand (which has hosted several Pacquiao and Mayweather fights), and the Superdome in New Orleans in hosting a fight many believe will break the all-time record for pay-per-view buys, which is the 2.44 million units sold for Mayweather's 2007 split decision victory against Oscar De La Hoya.