While Floyd Mayweather Jr. is not among the possibilities, Arum has said the list will include Juan Manuel Marquez, Miguel Cotto, Timothy Bradley Jr. and Lamont Peterson.
"I'll sit with Manny and explain everything to him, tell him what I think each of these fights would do on pay-per-view," Arum told ESPN.com on Wednesday. "We'll talk about what (trainer) Freddie (Roach) thinks and about what (Top Rank matchmaker) Bruce (Trampler) thinks. Then I'll let Manny make the decision on which opponent he wants to fight, which I am sure he will do while I am there."
The other minor consideration Arum is looking to sort out is whether Pacquiao's next bout will occur in May or June.
If May 5 is announced as the date, put your money on Marquez being the likely opponent for Pacquiao given Arum's desire to capitalize on Marquez's massive Mexican popularity on Cinco de Mayo.
Some considerations as to these possible opponents:
Arum doesn't have Marquez under contract. Marquez is currently a free agent.
Despite his accomplishments, Bradley has never been a ticket-seller and never headlined a PPV attraction.
Cotto has three KO victories since his loss to Pacquiao. Arum wouldn't have a difficult time trying to sell fans the new Cotto based on his recent performances. Also, Cotto has a massive Puerto Rican fan base and the early rounds of his fight against Pacquiao were highly entertaining.
While Peterson is coming off his win against Amir Khan, a tremendously action-packed fight, Peterson has yet to prove he's much of a draw in the boxing world as of yet.
Bob Arum claims no preference for whom Pacquiao chooses to fight next, but he also offers words on Mayweather's future course after emerging from prison that fight fans will dread: "He'll probably want a tune-up fight."
If Mayweather does follow that course, look for Pacquiao and Mayweather, at the earliest, for next November.