By John F. McKenna (McJack): Top Rank CEO Bob Arum acknowledges that he does not fully understand the current situation with World Boxing Council (WBC) welterweight champion Floyd Mayweather Jr. (42-0, 26 KO’s) but he stated that Floyd is seeking investors for a possible Mega fight with WBO welterweight champion Manny Pacquiao (54-3-2, 38 KO’s).

Arum was quoted in the Manila Standard saying:

“I know he’s meeting with this group that said they would guarantee” the funds needed for the biggest fight in boxing history.

“Let’s see what happens, but this investors group has money.”

Arum has already said that he would guarantee Pacquiao’a purse for such a fight but that since Mayweather has no promoter he would have to come up with investors who are willing to guarantee his purse.

Arum also believes that Mayweather’s recent comments to the media, is merely posturing on Mayweather’s part. The Top Rank promoter also believes Floyd’s actions served the purpose of helping to hype the fight.

Referring to the Mayweather camp discussing Miguel Cotto as a possible May 5 opponent for Floyd, Arum said:

“They are just floundering around. They are not going to get him.”

Pacquiao adviser Michael Koncz contradicted the assertion that the Pacquiao camp had previously agreed to May 5 as a date for the Pacquiao – Mayweather fighting saying that they had never agreed to that date.

Koncz acknowledged that he had met privately with Mayweather at his Las Vegas Gym several weeks ago but did not disclose what was discussed at the meeting.

Arum has said on several occasions that he thinks the more likely time frame for a Mayweather – Pacquaio fight is the November time frame which would afford both fighters the opportunity to have a tune up fight. It is still not known who Mayweather or Pacquiao will fight in the spring, although several names are being tossed around for both fighters.

In Mayweather’s last fight he scored a 4th round KO over Victor Ortiz last September. In that fight Ortiz appeared to self destruct when it was evident that he was being totally outclassed by Floyd and illegally head butted him. After the head butt Mayweather delivered the KO punches while Ortiz held his hands down at his sides after time had been called back in.

Pacquiao won an extremely controversial decision over his long time nemesis Juan Manuel Marquez in November. Most boxing observers felt that Manny lost that fight.