By Lem Satterfield

With only a week left in the mid-July deadline, WBO welterweight champion Manny Pacquiao and his team members are not confident a fight with Floyd Mayweather Jr. will happen on November 13. Top Rank [who promote Pacquiao] and Golden Boy Promotions [negotiating on behalf of Mayweather] recently reached an agreement for a Mayweather-Pacquiao fight. The proposal was then forwarded to Mayweather for his approval.

Top Rank CEO Bob Arum set a mid-July deadline for Mayweather to approve, or reject, the terms. If there is no word from Mayweather, or he rejects the deal, Arum and Team Pacquiao are prepared to move forward with a new opponent in November. The two possibilities are Antonio Margarito and WBA junior middleweight champion Miguel Cotto. Despite Margarito's inability to obtain a license to box in the state of Nevada, Pacquiao is still interested in fighting him, either in another state or outside of the country.

When we asked Pacquiao's adviser, Michael Koncz, whether he believes Mayweather will return a signed contract before the mid-July deadline, Koncz replied - "Read between the lines."

Koncz and Pacquiao are already preparing their "Plan B" options. They don't plan to wait beyond the mid-July deadline. Koncz met with Cotto in Puerto Rico on Monday to discuss a possible rematch for November. There have been discussions, even on Friday, about fighting Margarito. While Pacquiao and his team are crossing their fingers for a Mayeather fight, they are not confident the mega-bout will happen, at least in November. If the Mayweather fight falls through, Arum is willing to make the fight in 2011, with a May date being a tentative target.

"If we thought that we were going to receive a contract next week, do you think that I would be looking around to see what our options are? Probably not. So we're considering all of our options because, in another week, we don't want to be caught with our pants down," said Koncz.

"If the fight is made with Floyd, and if he signs the contract, then so be it. And if he doesn't sign it, we're not sitting around waiting, as I have said many times. So we're preparing to move on, looking at our options in the event that we don't receive a contract from Floyd next week."

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 .