Manny Pacquiao Will Not Fight Amir Khan in April, According to Promoter Bob Arum

Manny Pacquiao will not fight Amir Khan on April 22 but is leaving the door open for a potential matchup in the second half of 2017, according to promoter Bob Arum.

"When they contacted me, I told them it was pie in the sky, that this is crazy—it's not going to happen," Arum said Tuesday, per Lance Pugmire of the Los Angeles Times. "Manny wanted to roll the dice. He rolled the dice, and it came up snake eyes. If something is too good to be true, it's too good to be true."

Pacquiao, 38, was in search of a $38 million offer to fight Khan in the United Arab Emirates. Arum said it was an "outlandish sum...made no sense."    

In the meantime, Arum has sent Pacquiao a proposal to face an undisclosed opponent in July.

The reigning welterweight champion last fought Nov. 5 in a unanimous decision win over Jessie Vargas in Las Vegas. He has won each of his last two bouts since his much-publicized loss to Floyd Mayweather Jr. in May 2015. That fight briefly led to Pacquiao's retirement, but he returned to the ring 11 months later to defeat Timothy Bradley.

Pacquiao and Khan originally announced their fight in February. When originally discussed, it seemed the pair had multiple countries looking to host the bout—billed as what would have been one of 2017's biggest prizefights.

Khan, 30, has not fought since being knocked out by Canelo Alvarez last May. That loss broke a string of five straight wins for the Brit, who was a rumored Mayweather opponent at one point.

Arum said Pacquiao wants to fight "as soon as possible" because he is on a break from his responsibilities as a senator in the Philippines.