Although the fight is close to being signed, we were in the same position this time in March.
With the deal done, and Pacquiao offered a record breaking purse, he pulled out of the fight at the last minute over a drug testing request.
Pacquiao had already, reportedly, made many questionable demands of his own, in a potential attempt to derail the fight. When Mayweather accepted all of these, he then took offence to being asked for a random drug test within 14 days of a fight, walking out on the deal.
Now, 14 days is fine. In fact, Pacquiao says, "it's good for the sport," so it's obvious to most that he ruined the last fight over nothing.
So, maybe we should watch this space before we get our hopes up.
Golden Boy Promotions have stated this week the fight is close to being signed. However, they also warn that promoter Bob Arum and Team Pacquiao are tough to deal with. So people should wait for official announcement before they start booking tickets for the fight.
Golden Boy states the fight is agreed financially. They are waiting on confirmation from both Pacquiao and Mayweather's people on the smaller aspects of the bout.
Golden Boy states, however, that they have had no direct contact with Pacquiao in weeks. They've relied on Arum to relay messages.
This is worrying. During the last negotiations, many people felt that Bob Arum had accepted most of the demands, as he felt they were inconsequential. The only people stopping the fight were Pacquiao's notorious "inner circle".
Basically, Bob Arum says one thing, Pacquiao says another. What Arum agrees to isn't always acceptable with Pacquiao or his entourage.
Could we have another situation where Arum accepts the deal, only to have Manny pull the plug again? Who knows?
Mayweather's in a strong position either way, and probably won't have to resort to scratching around for pointless rematches with Cotto, or freak show matches with Margarito.
In fact, most people in boxing think that a bout with Sergio Martinez at 154 would be a much tougher fight anyway.
There's a chance Mayweather would do exactly the same to Pacquiao as he did to Shane Mosley and Rafael Marquez. Everyone can probably see it coming. It wouldn't be a huge shock.
Sergio Martinez is an elite middleweight. There might not be a tougher fight in boxing for Mayweather.
Let's hope the fight gets signed anyway.