Pacquiao and Khan know each other well, having sparred hundreds of rounds together when they were trained by Freddie Roach

Manny Pacquiao looks set to box Amir Khan on May 20 in one of the most high-profile bouts to be staged in the UK after terms for the contest were agreed yesterday.

The Macron Stadium in Bolton, Khan’s home town, and the Manchester Arena are on hold to stage the contest. Contracts have not yet been signed but a verbal agreement has been made for the bout to take place in the UK, despite an offer to stage it in the United Arab Emirates.

Khan has been chasing a bout against Pacquiao or Floyd Mayweather, two of the sport’s greatest names, for years.

Pacquiao would arguably be the highest profile name to box in Britain since Muhammad Ali took on Brian London at the Earls