( CNN ) -- The promoter for Filipino world champion boxer Manny Pacquaio , Bob Arum , has confirmed the `` super fight '' with American Floyd Mayweather Jr. will not happen after mediation talks between the two parties failed . `` The fight is off , Floyd Mayweather walked away , '' Arum told the USA Today newspaper in a telephone interview on Wednesday . Pacquiao and Mayweather had asked retired federal judge Daniel Weinstein to help the two parties resolve a dispute , which had threatened to derail what was expected to be the most lucrative bout in the history of the sport . However , after two days of further negotiation , Arum said no agreement could be made with Mayweather , with the result that both fighters would now miss out on a potential purse of $ 40 million each . `` It 's not surprising . I always felt that he was n't going to do the fight . He knows Manny will beat him . Mayweather 's never stepped into the ring with a guy he had any question but that he was going to beat . Our guy was agreeable , Mayweather was n't , '' the Top Rank promoter said . `` That 's why there 's never been a ( Shane ) Mosley , there 's never been a ( Antonio ) Margarito , there never was a ( Miguel ) Cotto , and there 's no Pacquiao . `` Floyd Mayweather is a coward . He will never fight anyone that will remotely give him a tough fight . `` It would 've made millions and millions , and he walked away from it ... I 'm not disappointed in the sense that I always knew it was going to be this way . '' The welterweight title bout was thrown into doubt when Mayweather demanded that random drugs testing should be employed before the fight , a request that prompted Pacquiao to take legal action for defamation . Arum said Pacquiao will turn his attention to fighting undefeated Israeli WBA super welterweight champion Yuri Foreman on March 13 or March 20 . Filipino pugilist Pacquiao had been infuriated by the insistence of Mayweather and his team at Golden Boy Promotions that both fighters submit to Olympic-style blood testing in the buildup to their pay-per-view extravaganza . Pacquiao filed a lawsuit in a federal court in Las Vegas last week for defamation against Mayweather and others for allegedly claiming he had used performance-enhancing drugs . The bout at welterweight appeared to be virtually set after other issues around the cut of the purse for each fighter were settled , but then the drug-testing row erupted over the Christmas period . Pacquiao became a five-weight world champion after his WBO welterweight title win over Miguel Cotto in November , while the unbeaten Mayweather returned from a 21-month retirement to beat Mexican Juan Manuel Marquez in September .
Top Rank promoter Bob Arum , confirms the ` ` super fight '' with contender Floyd Mayweather Jr. is off . The two had failed to resolve a bitter dispute over the lack of drug - testing before their match - up . Chief judge Daniel Weinstein failed to secure agreement for what could have been the most lucrative fight in history . Pacquiao will now fight undefeated Israeli WBA super welterweight champion Yuri Foreman .