WBC/WBA welterweight champion Floyd Mayweather Jr. sits in his corner between rounds
WBC/WBA welterweight champion Floyd Mayweather Jr. sits in his corner between rounds during his title fight against Marcos Maidana of Argentina at the MGM Grand Garden Arena in Las Vegas, Nevada September 13, 2014. REUTERS/Steve Marcus

Sports fans could kiss the dream match goodbye after the group of Abu Dhabi investors withdrew on the first week of January their $120 million offer for American boxer Floyd Mayweather Jr to fight Filipino champ Manny Pacquiao.

The Middle Eastern businessmen found Mayweather's flip flopping decision to face Pacquiao as an untenable business proposition.

M Akbar Muhammad, who heads the group of investors, said, quoted by Boxing Scene, "We want to deal with serious individuals, individuals who have the ability to make a decision. Regrettably, that is not the case with Mr. Mayweather."

He stressed their group is serious and he would permit them to "dangle an inordinate amount of time."

Muhammad offered the record-high amount to Mayweather in late November, but advised him a week ago that they will withdraw the offer on the first week of January.

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He urged Mayweather and members of the Money Team to rethink of their use of the nickname "Money May" for the boxer as they see his attitude as like not wanting to box for $120 million, but for hotdog money only.

While Mayweather uses the initials TBE to mean The Best Ever, Muhammad said he has failed to meet the standards set by other boxing greats such as Muhammad Ali and Sugar Ray Leonard who beat their arch rivals, namely, Joe Frazier and Thomas Hearns, respectively.

His statements echo what Bob Arum, chief of Top Rank Promotions, have been saying about Mayweather being afraid of facing Pacquiao on the ring because he fears a southpaw could give him his first defeat just a fight away from retirement and equaling the 0 loss record of boxing icon Rocky Marciano.

"To rise to the challenge, first, you must accept the challenge, and that means fighting the very best you can when the opportunity arises," Muhammad said.

He added Abu Dhabi group would nevertheless still hold a big boxing event this year in the city with a championship match, concerts and tributes to Muhammad Ali, the real boxing great.

"In keeping with the vision and determination of our investment group, it will be a boxing spectacle unrivaled in the history of the sport," Muhammad vowed.

To contact the writer, email: v.hernandez@ibtimes.com.au