According to reports, Ricky Hatton’s camp have given an ultimatum to Bob Arum and Manny Pacquiao, and without a signed deal in place, they will walk away from the potential mega-fight.

Hatton and Pacquiao’s camps agreed prior to formal negotiations on a 50-50 split of revenues, but since talks opened up, Pacquiao and his team have decided that they want 60 percent. When that got nowhere, they lowered it to 55 percent. Hatton’s camp offered up to 52 percent, with Pacquiao’s promoter Bob Arum going into his own pocket to get Manny a higher guarantee.

This seems to be about as much as Hatton is willing to bend, as well it should be. Hatton is a proven financial success, while Pacquiao has been anything but that, outside of his fight with Oscar De La Hoya.

Now according to BoxingScene.com, Arum told an overseas web site that Hatton is planning to walk away from the fight, leaving Pacquiao with zero percent of the revenue.

In my opinion, Hatton is completely right to do this. He can fight many other fighters and make a fortune, while Pacquiao needs a big name to sell. His pay-per-views have been terrible, and outside of fighting Antonio Margarito (busy through the summer), Miguel Cotto (busy with Margarito) or Juan Manuel Marquez (Pacquiao wants no part of it), there is no one out there for Pacquiao to sell a fight with.

Mark my words — if Hatton turns this deal down, Pacquiao and his crew will be begging for 50 percent within a week. At that point, Hatton should offer him 45 percent or nothing.

Pacquiao claims to be the pound-for-pound best in the world (BoxingInformer #2), he has to at least once beat the champ in his weight class to earn my respect as such. Fighting Hatton at 140, where Hatton is the champion, is something that Pacquiao needs. Hatton doesn’t need this fight.

Manny Pacquiao is going to have to learn a lesson about the business of boxing eventually. When his own promoter can’t get through to him, nor can Freddie Roach, you know he is surrounded by the wrong people. Pacquiao is treated so much like royalty in the Philippines that he just assumes that the whole world feels the same way. The truth is, many of us see him as an exciting fighter who is 0-3 against prime fighters, having been beaten around the ring by Erik Morales, and losing somewhere in the neighborhood of 19 of 24 rounds against Marquez.

Manny still has a lot of proving to do to people who know boxing, but in his protected world, he is already king.

Hatton walking away from this fight could be the best thing that ever happens to Pacquiao. Maybe this will wake him up to the realities of the boxing business.