Manny Pacquiao has settled his defamation lawsuit against Golden Boy Promotions chiefs Oscar De La Hoya and Richard Schaefer on 'confidential terms'.

De La Hoya, Golden Boy president and founder, and Schaefer, the firm's chief executive, were taken to court by the Filipino fighter over comments made during early negotiations about a fight with Floyd Mayweather in 2009.

A statement from the pair said: ‘Richard Schaefer and Oscar De La Hoya, on behalf of themselves and Golden Boy Promotions, wish to make it crystal clear that we never intended to claim that Manny Pacquiao has used or is using any performance enhancing drugs, and further state that we do not have any evidence whatsoever of such use.

‘Manny Pacquiao is one of the greatest fighters of all time, and we apologise if anyone construed our prior remarks as in any way claiming or even suggesting that Manny uses or has used performance enhancing drugs.’

The parties fell out over proposed testing procedures for a bout between Pacquiao and Mayweather, who was represented by Golden Boy at the time.