By Ronnie Nathanielsz

The megabuck fight between Filipino boxing icon Manny Pacquiao and Britain ’s Ricky “The Hitman” Hatton is off . And in the words of Pacquiao’s lawyer Franklin “Jeng” Gacal, “it’s kaput” meaning finished, dead.

Top Rank promoter Bob Arum, in an overseas conversation with insidesports, Standard Today and Viva Sports around noon said “The Hatton people have been very patient. They have told (Richard) Schaefer that tomorrow morning (London Time) they are calling a press conference announcing that they are calling off the fight.”

Arum said he had informed Pacquiao’s lawyer Franklin “Jeng Gacal that he “has to have a signed copy of the contract by 6:00 p.m. Manila Time. If I don’t have it faxed to my house I can’t  prevent these people from pulling the plug.”

In a text message two hours before the deadline expired Gacal said “They gave us a deadline until 6:00 p.m. Manny won’t sign what’s on the table. So I think its kaput.”

Arum confirmed what he told us the other day that he had been able to get Pacquiao a 52-48 revenue split from the original 50-50 deal and raised the guaranteed purse from the $11 million Pacquiao got in the Oscar De La Hoya fight to $12 million for the Hatton showdown. An exasperated Arum said  “ I don’t know what these people want anymore. If it won’t happen, it won’t happen.”

Arum at the same time indicated that if the Hatton fight is off “I have no idea what Plan B is.”

Arum said Pacquiao, the world’s No.1 pound-for-pound fighter will be back to getting $2 to $3 million a fight.  He speculated that Pacquiao might just have to sit out the rest of the year.

In pushing the urgency of Pacquiao agreeing to the deal as outlined in the latest contract submitted to him Arum said “he’s got a few more hours.”

Pacquiao’s lawyer Franklin “Jeng” Gacal late Tuesday night confirmed that Arum was not prepared to raise the guaranteed purse any higher than he had already done and had given Pacquiao an ultimatum, otherwise the fight would be off.

Trainer Freddie Roach also feels upset over the fact that he’s been trying to contact Pacquiao without any success and that his calls are not being returned. He too believes that Pacquiao won’t make anywhere near the guaranteed amount for the Hatton fight no matter who he fights.

Very early Wednesday morning in Manila, Ray Hatton, the father of Ricky Hatton told us that they were hopeful that “everything is in order” when the contracts are sent over to their lawyer Gareth Williams later in the day and that “other people who have a share ease back on theirs and be sensible enough to make the fight happen.”

Hatton said they were hoping an announcement could be made on Friday and that Pacquiao would arrive in London on the 27th and they would hold press conferences in the British capital as well as Manchester before Pacquiao returns to the Philippines .

Ray Hatton said if the fight doesn’t happen “a lot of fans will be very disappointed.”