By Simon Evans

Talks between Arum's Top Rank and Mayweather's Golden Boy promoters have stalled over the issue of random blood testing, demanded by Mayweather's team and rejected by Pacquiao.

Arum set a Monday deadline for Golden Boy to accept a "final offer" in which both sides let the Nevada State Athletic Commission make the final decision on testing.

Leonard Ellerbe, CEO of Mayweather Promotions, said that there was no question of accepting that proposal.

"Random is random. We are not backing off and the ball is in their court," he told Reuters.

Arum said if that was the stance of the Mayweather team then he would announce another opponent for March.

"If that is the case then tomorrow morning we will announce who Manny will fight on March 13 and it won't be Floyd Mayweather," Arum told Reuters.

Arum has previously identified former junior welterweight champion Paulie Malignaggi as the likely replacement for Mayweather but said it would be a blow to the sport not to have the bout take place.

"Its terrible. Mayweather and his people have never cared about the good of boxing and it is Manny that has brought boxing back. Is this a loss for boxing? Is this a missed opportunity? Of course it is."

Arum said that Pacquiao had no objection to blood testing up to 30 days before a fight or after a fight and random urine testing at any time and added he believed that there were ulterior motives.

"This is a false issue that is being raised for maybe three reasons. One, an attempt to smear Pacquiao and those people that have done that will pay the price because litigation is going to proceed.

"Number two because it is convenient way for Mayweather to not fight Paquiao who he knows he can't beat.

"Number three there is the possibility it is a way to disconcert Pacquiao who they know and knew doesn't like to give blood immediately in the weeks prior to a fight when he is in training because he believes, rightly or wrongly, that it saps his strength.

"The reason they know this is that Pacquiao's last defeat was to Erik Morales and he had been directed to give a blood test that the state commission require, that he needed for a license, for HIV and hepatitis. He did it, they took his blood test 10 days before the fight, he claims that it sapped his strength and lose to Morales.

Pacquiao said on Christmas Day that he intended to sue the Mayweather camp claiming they had insinuated he had been using performance enhancing drugs. He denies ever using drugs.

(Editing by John Mehaffey)