By Lem Satterfield

In a deal that many are expecting to be finalized by Thursday, "Sugar" Shane Mosley will likely be announced as the next opponent for eight-division champion Manny Pacquiao in an HBO pay-per-view televised clash on May 7 at the MGM Grand in Las Vegas.

According to a source close to the fighters' negotiations. James Prince, the adviser of the 39-year-old Mosley (46-6-1, 39 KOs), and Top Rank Promotions CEO, Bob Arum, on behalf of the 32-year-old Pacquiao (52-3-2, 38 KOs), spoke on Monday toward the goal of finalizing a deal by as early as Thursday. 

"We're talking to Bob Arum, but nothing is really happening as we speak right now. James Prince is kind of handling it. And then, when it gets down to the last particulars, then I'll step in and then we'll finalize it," said Mosley. "All of the fingers are pointing towards me getting the deal done and making the fight. It's not a done deal yet, like I said, but it's certainly looking like it's heading in that direction."

One of the items being discussed is the weight. There is a possibility, although most don't expect it, for Mosley to face Pacquiao at a catch-weight of 148-pounds, with the WBC's 154-pound title at stake. Pacquiao, who also holds the WBO's title at 147, captured the WBC's vacant title last month with a twelve round decision over Antonio Margarito, which took place at 150-pounds.

Lem Satterfield is the boxing editor at AOL FanHouse and the news editor at BoxingScene.com. To read more from Lem Satterfield, go to AOL FanHouse by Clicking Here .