By Miguel Rivera

There are currently ongoing discussions for a battle of former world champions.

An off is one the table for Puerto Rico's Jose Pedraza (22-1, 12 KO's), the former IBF champion at super featherweight, to face the former lightweight champion under the same sanctioning body, Mickey Bey (22-1, 10 KO's).

If a deal is reached between the two parties, the contest would take place on Tuesday, August 22, in Las Vegas. Fox Sports 1 would broadcast the contest and it would be part of the events connected to the big fight week - where on August 26th Floyd Mayweather Jr. will return to the ring for a showdown with UFC superstar Conor McGregor at Las Vegas' T-Mobile Arena.

Mayweather is Bey's promoter. Pedraza's adviser, Al Haymon, is also involved in a close working relationship with Mayweather.

The biggest problem in making Pedraza vs. Bey, at least right now, is the money.

According to Luis Espada, the father, manager and trainer of Pedraza, they were sent a very low offer for the fight.

"We have a contract on the table and about an hour ago they gave us an ultimatum. We want the fight with Bey and we are willing to go to his house in Las Vegas. But they are offering us 25 thousand, that's embarrassing," Espada told Jose Sanchez.

Pedraza has been out of the ring since January 14, when he suffered the first defeat of his career. The boxer lost his IBF title when he was battered and knocked out by Gervonta Davis in Brooklyn, New York.

Bey has been out of the ring even longer. He lost his world title last June, when he dropped a twelve round decision to Rances Barthelemy at the Hard Rock in Las Vegas. Prior to that, Bey had won four in a row since getting stopped by John Molina in July of 2013.