Marquez-Pacquiao III waiting on go-ahead

Golden Boy Promotions, Marquez’s former promoter, still owns the right of last refusal on any of his fights through February. If Golden Boy matches the terms — essentially thrusting itself into the middle of the deal — the fight would be scuttled.

According to Top Rank chairman Bob Arum, whose company promotes Pacquiao, Marquez informed Golden Boy it has until 3 p.m. Monday to decide.

“Marquez has accepted our offer,” Arum said Thursday. “But we’re in a holding pattern.”

Arum said Marquez would make $5 million to face Pacquiao a third time, with the fight to be fought at a catch weight of 144 pounds. There also is a rematch clause that would pay Marquez $10 million should he beat Pacquiao on Nov. 12.

The offer was made Monday and accepted by Marquez shortly thereafter.

Arum said if Golden Boy doesn’t match, he will talk to Showtime and HBO next week about a Pacquiao-Marquez pay-per-view telecast. If Golden Boy matches and the fight is off, Arum will quickly turn to WBO junior welterweight champion Timothy Bradley or Zab Judah, the IBF junior welterweight champ, as a possible opponent for Pacquiao. Judah has been linked to a possible fight with reigning WBA junior welterweight champ Amir Khan in August, probably in Las Vegas.

“Let’s see what happens with Marquez,” Arum said. “All I can tell you is we won’t do anything unethical in negotiating with any opponent for Manny.”

Golden Boy chief executive officer Richard Schaefer did not return phone calls Thursday seeking comment.

Pacquiao (53-3-2, 38 knockouts), the reigning WBO welterweight champion, is riding a 14-fight winning streak, the latest being his lopsided 12-round unanimous decision over Shane Mosley on Saturday at the MGM Grand.

Marquez (52-5-1, 38 KOs) is scheduled to face former world lightweight champion David Diaz on July 2 in Mexico City in what would be a tuneup for Pacquiao. Marquez hasn’t fought since Nov. 27 when he stopped Michael Katsidis in the ninth round at the MGM to retain his WBA Super and WBO lightweight titles.

If Pacquiao and Marquez meet Nov. 12, the circumstances will be far different from their first two fights. In their 2004 bout, both were featherweights. Their 12-round fight at the MGM Grand ended in a draw after Pacquiao knocked down Marquez three times in the first round only to see Marquez rally and dominate the second part of the fight.

The rematch didn’t come until 2008 at Mandalay Bay as super featherweights. Pacquiao claimed a 12-round split decision, a fight many ringside observers thought Marquez had won. Marquez and his camp demanded an immediate rematch, but Pacquiao has made him wait, choosing instead to move up in weight.

Since his 2008 victory at 129 pounds, Pacquiao has won titles at lightweight, junior welterweight, welterweight and super welterweight. He has won belts in eight weight classes, including flyweight, bantamweight and featherweight.

Contact reporter Steve Carp at scarp@reviewjournal.com or 702-387-2913. Follow him on Twitter: @stevecarprj.