By Rick Reeno

Wynn Resort & Casino, Las Vegas - While he admits that certain points have been agreed upon, Top Rank's CEO Bob Arum made it very clear that a deal for a welterweight showdown between Manny Pacquiao and Amir Khan is far from being finalized.

The fight is being negotiated between Arum and members of Khan's team. Al Haymon, who advises Khan, is not directly involved in the negotiations.

Pacquiao is scheduled to fight within the first few months of 2016. His return will take place no later than April 9th.

The two frontrunners are Khan and WBO junior welterweight champion Terence Crawford. The third possibility, if he wins on Saturday night, is WBO welterweight champion Timothy Bradley - who is 1-1 with Pacquiao in their two fight series.

Pacquiao will make the final decision after reviewing the financial benefits of all three possibilities.  

If Pacquiao selects Khan, Arum advised the British champion's team that Amir will have to fly in to Las Vegas to finalize the major points.

"I said to them, even if Manny Pacquiao picks them - they are going to have to come to Vegas. I have to sit with the kid and work out the deal - because the deal is far from being worked out. Certain points have been agreed to," Arum said.