After Floyd Mayweather and Manny Pacquiao had a chance meeting at a Miami Heat game and subsequent longer conversation last Tuesday night, it appeared as though the mega bout with the two boxers was closer to happening than ever before.

Then TMZ prematurely ran a story over the weekend saying the fight was a done deal, which Mayweather laughed off.

Now, ESPN is reporting that negotiations for the Mayweather-Pacquiao bout have indeed hit a wall. If they still want to make the fight for the proposed May 2, they’re going to have to hurry and cement a deal.

"The thing that really concerns me is that we are running out of time for May 2," Top Rank promoter Bob Arum, who represents Pacquiao, told ESPN on Monday. "If you want to drag this out a little longer then move the fight to later in May — May 30 is a good date — or go in June. We agreed to go on May 2 because that is the date Mayweather is hung up on, but if we're going to go on May 2 we need to get this done."

Many believe that the wall that has slowed down negotiations is an agreement of terms between CBS/Showtime, which has Mayweather signed to a contract, and Time Warner/HBO, which Pacquiao is signed to.

Arum added: "There are issues that should be solved in 10 minutes, but it's a slow dance," Arum said. "We send one draft to their side and their lawyer sends back a draft with something else that's an issue. And there doesn't seem to be any urgency about it on their side. It's terrible."

Arum did express confidence in CBS chief executive Leslie Moonves being able to handle specific issues, but wondered if Mayweather will listen to him.

After a brief exchange and even staredown at halftime of the Heat game last Tuesday, the two boxers exchanged information and Mayweather reportedly met Pacquiao in Pacman’s Miami hotel suite later that night to further discuss and negotiate the terms of the fight.

The proposed mega bout has had six years worth of intermittent talks, which never came to fruition. 

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(Photos from left:  Ethan Miller/Getty Images, Dan Istitene/Getty Images)