Boxing News 2014: Pacquiao Reveals Serious Negotiations Over $227 Million Bout With Mayweather Has Started

Manny Pacquiao of the Philippines attends a promotional event with his next opponent Chris Algieri of the U.S. (not pictured) at a hotel in downtown Shanghai August 26, 2014. Pacquiao will defend his WBO welterweight title against Algieri at the Venetian& — Manny Pacquiao of the Philippines attends a promotional event with his next opponent Chris Algieri of the U.S. (not pictured) at a hotel in downtown Shanghai August 26, 2014. Pacquiao will defend his WBO welterweight title against Algieri at the Venetian's Cotai Arena in Macau on November 22, 2014. REUTERS/Carlos Barria REUTERS

Even if Floyd Mayweather's rematch with Marcos Maidana is just a week away, all eyes still continue to be on the speculated dream match between Mayweather and Manny Pacquiao.

Read: Boxing News 2014: Money May's Condition For The Dream Match Is Pacquiao Must Sign Up With Mayweather Promotions

Over the weekend, Pacquiao confirmed that talks ongoing for their much-anticipated bout. "There are serious negotiations with the Mayweather camp and my promoter," Mirror quoted the Filipino champ who was promoting his match on Nov 23 versus Chris Algieri.

The congressman said the fight would probably happen in 2015, confirming previous reports that a Middle Eastern royal is brokering the match, possibly to be held in Dubai. With petro dollars behind the negotiations, Pacquiao disclosed that the prize money for the two boxers is in the vicinity of $227 million.

Bob Arum, chief of Top Rank Promotions, said that there might not be one but even two fights, which HBO - Pacquiao's pay-per-view carrier - and Showtime, Mayweather's PPV carrier, are interested in a two-fight deal.

Arum explained, "Both [TV] networks want this to happen. All signs seem to point to a first fight early next year." He added, "A second fight in the autumn would provide a different cash split because the winner of the first would claim the higher percentage. As each of them believes he would win, that provides an extra incentive."

Arum said that the fight should have happened a few years ago, but he blames Mayweather for doing everything so the bout would not take place. The promoter said, quoted by The Wall Street Journal, "Mayweather values his zero, his undefeated record more than life itself ... Remember now this isn't a guy that has a lot of depth, this is a guy who lives on the surface as I see and being undefeated for him is everything."