Top Rank Promotions CEO Bob Arum remains unsure about the proposed showdown between Manny Pacquiao and Floyd Mayweather, but the famed promoter dismissed rumors suggesting the reigning pound-for-pound king will face Miguel Cotto instead.

Arum said his company is already preparing other options in case the long-awaited super fight between Pacquiao and Mayweather will not be finalized, but he made it clear that the Mayweather-Cotto rematch is not an option.

The 83-year-old promoter called the talks about Mayweather-Cotto rematch "nonsense" because he believes Showtime, who owns an exclusive deal with the unbeaten world champion, will not be in favor of the fight because they will lose a lot of money for that pay-per-view bout.

"Showtime is now losing about $10-12 million on a Mayweather fight," Arum said via BoxingScene. "If he fights Cotto, Cotto will want at least $13 million to fight Mayweather, which is about $10 million more than a normal Mayweather opponent. In addition, since Floyd can get $32 million to fight a bus boy, he's going to want at least another $10 million to fight Cotto. So that means laying out another $20 million."

Mayweather, who holds a perfect 47-0 record with 26 knockout victories, scored a unanimous decision win against Cotto during their World Boxing Association super welterweight title fight in May 2012.

The fight reportedly generated 1.5 million pay-per-view buys and $94 million domestic PPV revenue. Arum does not see a rematch topping those numbers, and that is why he is convinced that Showtime will not be open to the rumored Mayweather-Cotto II fight.

Former world champion Shane Mosley also talked about the rumored rematch earlier this week. Mosley said a second fight between the two world champions will be interesting, but he is unsure if it will happen at all because Mayweather knows Cotto is tougher than before after trainer Freddie Roach took the Puerto Rican under his wings.

"Cotto seems to have brought a lot of power to the bigger divisions so we will see what happens," Mosley said of the reigning World Boxing Council middleweight champion. "Maybe Floyd wants to pick up a middleweight title before he ends his career. That is still a great fight. That is not an easy fight for Floyd and Floyd knows that."

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