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Now the truth is out - undefeated boxer Floyd Mayweather Jr has been using all excuses not to engage eight-division title holder Manny Pacquiao in the ring because he is afraid of the Filipino southpaw.

In a recorded interview with KKBOX Sports TV in Memphis, Mayweather explained that if Pacquiao would defeat him, it would erase his legacy as an undefeated boxer, particularly at this point when he has set his eyes on hanging up his gloves soon.

"I have been lucky to reach this point in my career, and understand. Losing all of that to someone who is in desperate mode right now is a scary thing," Abril Uno quoted the American pugilist. He was referring to Pacquiao's tax problems in the Philippines and U.S.

However, he is still open to risking his legacy and said he would think the offer and come up with a decision after a few months, shutting the door for now for the much-anticipated dream match.

He is imposing several conditions on the Filipino boxing hero and his promoters such as Manny cutting ties with promoter Bob Arum, wearing trunks of the colour Mayweather picks and changing the standard ring announcement "Let's get ready to rumble" copyrighted by Michael Buffer. Rather than pay Buffer, he wants to change the line to "Let's get ready to mambo!"

Pacquiao, however, said he does not want to fight Mayweather for the sake of money and challenged the undefeated boxer to donate all the proceeds - covering guaranteed prize, gate receipts, pay-per-view and endorsements - of their dream match to different charities around the world.

"I'm not the one seeking this fight rather it's the boxing fans all over the world," he said, quoted by the Philippine Daily Inquirer.

Pacquiao, also a congressman representing Sarangani province, said he is ready to submit to any drug testing and he does not need to prove anything insofar as boxing is concerned.

"I have carved my own niche in the annals of boxing. There's no reason why should I be desperate to fight him? But since the boxing fans worldwide are seeking and demanding for Pacquiao-Mayweather fight, I don't want to disappoint them," Manny added.

Latest report said that Pacquiao paid P32 million out of his alleged P2.2 billion tax liability to the Philippine Bureau of Internal Revenue. He even apologised to Commissioner Kim Henares for his harsh words over the tax problem.

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Pacquiao met with Ms Henares in her office. She said no compromise was reached with the champ, but as a taxpayer, he could request to pay only 40 per cent or even 10 per cent of the amount being assessed by the tax agency. But he should present a list of his assets to prove he doesn't have enough to pay his alleged tax liabilities.

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