Friday night the website TMZ sent shockwaves through the sports world when it reported that the long-awaited Floyd Mayweather Jr.-Manny Pacquiao deal was final.

“MAYWEATHER VS. PACQUIAO DEAL DONE ... Fight Set” read the headline, setting in motion a social media meltdown of the highest order.

There’s one problem: The story was incorrect.

Mayweather shot down the story Saturday, posting a message to his social media (with a photo of himself in a hammock): “Laying back, relaxing, enjoying good weather, palm trees and pina coladas. While they continue to lie about making the fight… I’m just going to continue to travel and explore the world on my private jet. #FightNotMadeYet”

Showtime Sports general manager Stephen Espinoza, who is involved in the negotiations, wrote on Twitter after the story was posted, “TMZ usually has good sources. This time, not so much.”

Sources from both sides directly involved in the fight also told ESPN.com that the fight is most definitely not set at this point.

“Not true,” one of the sources said.

Another said of the story, “Absolutely untrue. We still have significant unresolved issues. Nothing is happening before mid next week at the soonest. Not that close on deal terms.”

While many are hopeful the fight will finalized -- May 2 at the MGM Grand in Las Vegas is the date and venue if a deal is completed -- there are still a number of issues, mainly on the broadcasting side.

Showtime, which has Mayweather under contract, and HBO, which has a deal with Pacquiao, are trying to work through the details of what would be a joint pay-per-view telecast for what would undoubtedly be the richest fight in boxing history.