The camp of Filipino boxing icon Manny Pacquiao said Monday that it has yet to sign the contract for Pacquiao's May 2 showdown against Ricky Hatton in Las Vegas due to a disagreement on the sharing of fight proceeds.

"We have informed Bob Arum that we are not signing the contract. Manny is not contented with what is laid on the table. If the figures won't move, we will look for another [challenger]," said Pacquiao's lawyer, Franklin “Geng” Gacal.

The boxing icon Manny Pacquiao has just returned to Manila early Monday morning after spending Christmas vacation in the US with his family.