Manny Pacquiao's promoter, Bob Arum, says the negotiations between him and Floyd Mayweather's handlers have ended and a final proposal has been sent to Mayweather for review and approval.
“It’s now up to Mayweather if he wants to fight (Manny Pacquiao),” Arum told The Bulletin in a phone interview.
Arum said that if Mayweather decides not to fight, he has no other recourse but to “look for somebody else.”
It may be recalled that the negotiations for the highly publicized Mayweather-Pacquiao fight have been held almost in total secrecy as negotiators led by Bob Arum and Richard Schaefer were under gag order during the entire process.
Mayweather and Pacquiao were reportedly agreeable to a November fight date, and that the venue would be Las Vegas, Nevada.
At least two contentious issues have remained unresolved as of yesterday. These are the random drug test and fight purse issues. Arum did not say if he and Schaefer had agreed on the issues before sending the final recommendations to Mayweather for approval.
Arum announced earlier that he has lined up Miguel Cotto for a possible rematch with Pacquiao or a fight with Antonio Margarito if Mayweather declines the final proposal.