By Steve Kim

As we are now into the last week of January, there is still no deal between Floyd Mayweather to face Manny Pacquiao on May 2nd. It's been made clear by Pacquiao and his side that this would be the last week to make this long-awaited fight come to fruition.

Bob Arum, the chairman of Top Rank, which handles the Filipino superstar told BoxingScene.com on Tuesday afternoon:

"Hopefully, it'll get done this week. So it is, what it is."

When asked if he was optimistic, he replied - "well, it is, what it is. I'm not going to say one thing or another, now. If it doesn't happen, it doesn't happen. Time will tell."

But time is running out (at least in this latest round of negotiations). If a deal isn't struck by the end of this month, Pacquiao and his side will move on.

"Pretty much, yeah," said Arum, who confirmed that Plan B would be Amir Khan. "Yeah, he is. We've been making plans for [Pacquiao-Khan] to happen if the Mayweather fight doesn't happen."

The clock keeps ticking....

Steve Kim is the news editor for BoxingScene.com.