Report: No “Megafight” Between Manny Pacquiao and Floyd Mayweather Jr.

There will be no fight between welterweight champions Manny Pacquiao and Floyd Mayweather Jr., according to Dan Rafael of ESPN.com.

Both Leonard Ellerbe, one of Mayweather’s advisors, and Richard Schaefer, Golden Boy Promotions CEO, told Rafael that Pacquiao’s promoter Bob Arum of Top Rank was not interested in negotiating a fight.

"We have been informed that Bob Arum is not interested in pursuing a fight between Mayweather and Pacquiao at this time," Schaefer said.

Mayweather returned to the ring in September after a 16-month layoff and knocked out Victor Ortiz. Pacquio beat rival Juan Manuel Marquez in a controversial majority decision on Saturday night.

Schaefer said that he received the news that Arum was not interested in a Pacquiao-Mayweather fight from retired federal judge Daniel Weinstein, who has worked closely with both sides to settle issues in recent years.

"I am sick and tired of Bob Arum twisting the truth. It's another case of 'yesterday I was lying, today I'm telling the truth,' " Schaefer said, invoking Arum's most famous quote. "The truth of the matter is that we received this afternoon an email from retired federal judge Daniel Weinstein, who has informed us that Top Rank is pursuing a rematch with Marquez and, therefore, is not interested in immediate talks for a possible Mayweather-Pacquiao fight. This is obviously as clear as it can be that they have no intentions of making a Mayweather-Pacquiao fight. Therefore, Floyd Mayweather will have no other choice than to move on and identify and lock in another opponent for his ring return on May 5."