Mayweather's Camp has Officially Chicken Out

Top Rank promoter, Bob Arum, has announced that the mega-fight between Manny Pacquiao vs Floyd Mayweather will no longer push through. This announcement came after long hours of mediation session from both camps.

Although neither side was allowed to provide specifics of their dispute, Mayweather apparently resisted at a hard-fought compromise in the testing issues first raised by the former welterweight champion.

"I knew this was going to happen," said a weary Bob Arum, Pacquiao's promoter. "You had to play it out."

The promoters went into the hourlong mediation Tuesday hoping to reach an agreement on the drug testing issue for the fight. Mayweather's camp demanded random blood testing in addition to unlimited urine testing, with Pacquiao resisting at the stringent requests.

"I've been saying this for years: He's a psychological coward who doesn't want to fight anybody who has a chance of beating him," Arum said. "He walked away from a rematch with Oscar (De La Hoya) that would have paid him a fortune because De La Hoya held him close in the first fight (in May 2007)."

Arum said there's "no chance ever of salvaging it for March, no chance for it ever to happen." He plans to propose a mid-March bout with 154-pound champion Yuri Foreman to Pacquiao, who could become a champion in his eighth weight class.

The War on Pacquiao vs Mayweather has Started

It looks like the fight of Pacquiao vs Mayweather will not be fought into the ring but into court. As soon as the camp of Floyd Mayweather Jr. has turned down Bob Arum's ultimate proposal to mega-buck fight, Manny Pacquiao fired back at his potential opponent's camp, filing a defamation case Wednesday.

Manny Pacquiao, distinguished by many as boxing's best pound-for-pound fighter, filed an oral defamation suit in U.S District Court in Nevada against Floyd Mayweather Jr, Mayweather Sr. Roger Mayweather, Mayweather Promotions and Golden Boy Promotions CEO Richard Schaefer and Oscar De La Hoya.

Pacquiao insisted that he cannot afford his name and years of hard work be tarnished by allegations of him taking performance enhancing drugs. It is being noted that the Mayweather Camp has issued statements regarding Manny using performance drugs in his fights.

Nevada State Athletic Commission has order a directive to both Manny Pacquiao and Floyd Mayweather Jr. to submit their urine samples for testing which Manny has already complied.

In the meantime, Top-Rank Promoter Bob Arum said that he is looking for an alternate fight for Pacquaio on March 20 against either Jr. Middleweight champion Yuri Foreman or former Jr. Welterweight champ Paul Malignaggi.

A win by Pacquiao over Foreman will give him his eighth championship in eight weight divisions.