Promoter Bob Arum said Tuesday Manny Pacquiao's next fight is almost finalized, and once again, his opponent will not be Floyd Mayweather Jr.
According to the LA Times, Pacquiao is in the process of signing a contract for a third fight against Juan Manuel Marquez on Nov. 12 in Las Vegas.
The fight would pay Marquez at least $5 million at a catch weight of 144 pounds (65 kg), according to Arum, who heads Top Rank Boxing.
Arum said once the contract is signed, Marquez's promoter, Golden Boy Promotions, still must provide its final "approval and consent" for the fight to take place. It is believed Top Rank and Golden Boy have agreed to a deal to allow Marquez to fight Pacquiao.
The Mexican, who will turn 38 in August, fought Pacquiao to a draw in 2004 and lost a split decision in 2008, and has since coveted a third try at the Filipino champion. Marquez was soundly defeated by Mayweather in 2009, but has since defeated Juan Diaz and Michael Katsidis to retain his lightweight title.
Pacquiao, who battered Shane Mosley in a unanimous decision May 7, holds the WBO welterweight title, and has not lost since 2005. He has won 14 matches in a row and has won titles in a record eight different weight classes.
The boxing world has long wished for a dream matchup of Pacquiao against Mayweather, but the fight has not materialized. Both sides have accused the other of holding up a deal to determine the world's best pound-for-pound fighter.
