Manny Pacquiao
Manny Pacquiao is currently a senator in the Philippines.Reuters

Boxer Manny Pacquiao is said to have picked WBO welterweight champion Jessie Vargas as his contender for the scheduled November 5 fight. However, promoter Bob Arum has denied that the fight has been finalised, which can only be done after concrete financial terms are agreed.

The final decision lies with Pacquiao, and it can only be a 'done deal' after Arum talks with the Filipino after reaching the Philippines.

"Until Manny makes his decision [on the financial terms], everything is just speculation. I have talked with Jessie, I know what it will require Jessie to fight, but everything is up to Manny, and I have not talked to Manny and I won't until I get to the Philippines," Arum told the Las Vegas Review Journal.

Fans have been eagerly waiting for the opponent as the venue and the dates have already been announced. But, there have been talks regarding a possible Nov 5 fight in the Middle East, which has been shrugged off by Arum. The fight will take place as originally scheduled in Las Vegas.

"That is not true. It will be at the Thomas & Mack (Center), and it will be hosted by Wynn Resorts. The university was nice enough to move an exhibition basketball game, so that's firm. It will be in Las Vegas," Arum said.

However, one understands that the financial agreement may just be a formality, which shall be completed in few days to come. If the deal is officially announced by both camps, fans will be able to see Pacquaio fight for the first time after he retirement, early in the year. Arum played an important role in helping him come out of retirement. 

The fight promises to be an entertaining one, with both the boxers possessing an amazing pro record. Pacquiao has only lost four times in his last 66 fights, while Jessie has a 28-1 win-loss record.