The much anticipated Floyd Mayweather vs. Manny Pacquiao fight continues to keep boxing fans waiting.

Recently Pacquiao announced to the "Los Angeles Times" that he was giving Mayweather a deadline to finally make a decision on their potential bout.

"My promoter and I, we’ve already agreed to the terms and conditions of whatever he wants. We’re just waiting on the signed contract from him. We have to know soon, because if they will not fight, we can move on and choose another opponent. We have a deadline … this month.” Pacquiao said.

As much as it pains boxing fans everywhere, it just doesn't appear as if Mayweather will sign on for a 2015 fight with Pacquiao. Pacquiao has given into Mayweather's demands time and time again, but Mayweather hasn't shown any desire to take on the WBO Welterweight Champion.

Everyone has to have a plan B, and many believe Jessie Vargas could be Pacquiao's next opponent.

Vargas is currently the No. 2 ranked boxer in the lightweight division behind only Danny Garcia. The 25-year-old Mexican boxer has an unblemished 26-0 professional record with nine knockouts. In his last fight, Vargas defeated Antonio DeMarco in China to retain his WBA Light Welterweight title.

Obviously Vargas isn't the fighter that fans want to see face Pacquiao on May 2, but he could be the next best option, especially considering Keith Thurman has already agreed to face Robert Guerrero. Vargas will have to gain weight to fight Pacquiao, and this could be a great opportunity to show off his talents in front of everyone. Pacquiao should be able to take care of business with a unanimous decision victory in a potential fight.

Pacquiao would be a resounding favorite, but Vargas does have a height and reach advantage. Vargas is also 11 years younger. Maybe a Vargas-Pacquiao fight would be better than most fans expect.

Interestingly enough, Vargas's trainer for years was Floyd Mayweather's nephew, Roger Mayweather.

Both Mayweather and Pacquiao have seen their pay-per-view numbers drop in recent years. A fight with Vargas wouldn't do a lot for Pacquiao's numbers. On the other side, there's a good chance Mayweather will take on Miguel Cotto or Amir Khan, which probably won't bring high ratings either. In Pacquiao's last fight he defeated Chris Algieri, who was previously undefeated at 20-0. That fight was held one day after Vargas's victory over DeMarco, also in China.

Could we see Pacquiao beat back to back undefeated boxers?

Of course we all want to see Pacquiao take on Mayweather, but he and trainer Freddie Roach have to look at the future and train for the right opponent. Putting a deadline for Mayweather to make a decision is a wise business move. Rumors have swirled that Bob Arum may attempt to get Juan Manuel Márquez for a 2015 bout with Pacquiao, but do fans really want to see them square off for a fifth time?

Given the fact that Pacquiao is a very fast boxer and Vargas isn't a knockout artist, a fight between the two would be very technical. If Mayweather doesn't agree by Saturday, Jan. 31 to fight Pacquiao, we could see Pacquiao face Vargas in May.

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