Top Rank chief executive Bob Arum is in the midst of serious discussions with the camp of WBO light-welterweight champion Chris Algieri regarding a potential bout against Manny Pacquiao, according to multiple reports.
Boxing Scene on Wednesday reported that according to Arum, a "formal offer" has been made to Algieri to fight Pacquiao on November 22 in Macau.
"We're talking serious now with the idea of making the fight," said Arum. "Now, whether it gets made or not, I don't know."
Algieri, an unbeaten boxer with a 20-0 record, is coming off a shock unanimous decision win over Russia's Ruslan Provodnikov, a former sparring partner of Pacquiao.
The Long Island-native called out the Filipino champ after his upset victory, telling reporters: "It's time for the biggest fight that I can get, and maybe that's Manny Pacquiao."
Algieri's promoter, Joe DeGuardia, told the New York Daily News that they have a "Pacquiao offer on the table."
"We are negotiating that, actually, as we speak. And I expect that we're going to have a resolution within the next day or two," said DeGuardia, who also revealed that the offer was in the realm of "seven-figures."
Algieri will have to climb up a weight division to challenge Pacquiao for the WBO welterweight title, which the Filipino boxer regained when he routed American Timothy Bradley Jr. in April.
"It's the best possible fight out there for Chris," said DeGuardia. "He did great in the Ruslan fight, and he did great there, but fighting Pacquiao puts him on a completely different level."
"A win against Pacquiao makes him a star, a legitimate and true star," he added.
Meanwhile, Arum appears as though he is already considering how to sell a potential Pacquiao-Algieri fight, as he told RingTV that Algieri is a "pretty unique" fighter considering he is a college graduate.
"You don't see many college graduates in professional boxing, particularly those who are able to become champion," said Arum. "I'm intrigued by the fact that Algieri is a college kid, who is very articulate, and is somebody who is a credit to the sport."