Apology of Oscar De La Hoya and Richard Schaefer led to dropping the defamation lawsuit that was filed by Pacquiao against them

Oscar De La Hoya and Richard Schaefer operate the company Golden Boy Promotions. These individuals accused the boxer Manny Pacquiao in administration of steroids. Since this accusation could hurt Many Pacuiao’s career, he filed a defamation lawsuit against the president and the CEO of Golden Boy Promotions, the boxer Floyd Mayweather Jr. and his father.
But later Manny Pacquiao and Bob Arum, the Cief Executive Officer of Top Rank, reached an agreement with Golden Boy Promotions. Thus, Manny Pacquiao dropped lawsuit against Oscar De La Hoya and Richard Schaefer. But the defamation lawsuit against the boxer Floyd Mayweather and his father remained valid.
The Chief Executive Officer and the president of Golden Boy Promotions poined out that they denied their prior affirmations related to accusation in intake of steroids by Manny Pacquiao. They announced that there was no any reason to suspect Manny Paquiao in intake of forbidden products. Richard Schaefer and Oscar De La Hoya admitted that Manny Pacquiao was one of the best boxers of all times. At the end of agreement, the president of Golden Boy Promotions and Bob Arum, the CEO of Top Rank shook their hands.
It is beleived that this apology will cause competitions between Top Rank boxers and Golden Boy fighters.
Since the suspicion was directed at Manny Pacquiao, the apology was related to him too. He accepted it and removed the defamation that was related to Oscar De La Hoya and Richard Schaefer.
At the beginning the discussion about possible intake of performance-enhancing drugs delayed the fight between Pacquiao and Mayweather. It happened because Mayweather insisted on tests for prohibited substances by the WADA.
Then Mayweather refused to fight with Manny Pacquiao again, referring to steroid accusation. It caused extreme impatience in fans because they were expecting the fight.