By Lem Satterfield.

The deadline to make a deal with Floyd Mayweather Jr. has passed. Top Rank Promotions CEO Bob Arum gave Mayweather a deadline of July 16 to sign a deal to fight Manny Pacquiao on November 13. The next opponent for Pacquiao (51-3-2, 38 KOs) will be one of two options - either WBA junior middleweight champion Miguel Cotto, or ex-titlist, Antonio Margarito. A fight against either opponent could take place in Mexico or Abu Dhabi. Margarito and Pacquiao would meet for the vacant WBC junior middlweight title.

Pacquiao, and his adviser, Michael Koncz, spoke on Friday and discussed the two options on the table and the two possible locations. Pacquiao has no problem fighting either opponent, and he doesn't have a problem with the fight taking place in Mexico or Abu Dhabi. The option that makes the most financial sense will be selected.

"I just got off of the phone with Manny, and he had just called me, saying that he wants to keep that Nov. 13 date," said Koncz. "I explained it to him that the main reason for us fighting outside of the United States is for taxation purposes. There's no taxation in Abu Dhabi, and there's no taxation in Mexico. So that mean additional millions in Manny's pocket that would have gone to the U.S. taxes in America" 

"Manny has no preferences as to which one, he just told me to see which one that I can get the better deal out of. We have to look at the economics of it and what's the best option for him from a financial aspect. The bottom line is that it's a business."

Pacquiao is not happy about the Mayweather fight being possibly pushed back until May of 2011. He would rather fight Mayweather sooner than later, in order to avoid any possible debates on the final result.

"Well, it's upsetting, yes. But we would prefer to fight at this time before there is any further damage to Mayweather's abilities, whether it be physical or psychological or whatever. We don't want to be criticized down the road saying that we had fought Mayweather when he wasn't in his so-called prime. But even though the fight is not going to happen now, we want to leave the door open for next year," said Koncz.

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.