Manny Pacquiao claims he is in advanced talks for Floyd Mayweather rematch in May

Pacquiao will have to defeat Adrien Broner first who he will reportedly face next January in the US

Manny Pacquiao has revealed to reporters in Japan that he is in advanced talks with Floyd Mayweather for a rematch in May.

The first long-awaited clash between Mayweather and Pacquiao was then the biggest fight in boxing history and rumours were stoked over a possible rematch after it was reported that Pacquiao is in the process of inking a managerial contract with Mayweather's longtime advisor Al Haymon.

However, Pacquiao, who turned 39 this year, will first have to defeat Adrien Broner who he will reportedly face next January. Broner, Mayweather's former protege, last fought in April when he battled to a draw with Jessie Vargas.

“Floyd is going to fight on December 31 and I’m going to fight on January 12,” Pacquiao said. “After that, we’ll know, he’s coming back, we’ll discuss it.”

Pacquiao has fought four times since his lucrative defeat to Mayweather in 2015. The Filipino defeated old rival Timothy Bradley before regaining the world title against Jessie Vargas followed by a surprise loss to Australia’s Jeff Horn.

Pacquiao returned after a year’s layoff in July to reclaim a version of the WBA Welterweight title after knocking out Argentina’s Lucas Matthysse - Pacquiao’s first knockout victory in six years.

There were also recent reports that Mayweather may face Khabib Nurmagomedov after his victory over mutual foe Conor McGregor.

Mayweather is estimated to have earned $300 million for fighting Conor McGregor (Getty)

“I’m my own boss,” Mayweather said. “So I can’t say what’s going on in Khabib’s head. But, on my end, we can make it happen.

“When I face Khabib I’m getting a nine-figure payday. It’s more than the McGregor fight. Probably $100 million more, guaranteed.”

However, UFC President Dana White was quick to dismiss that possibility insisting that the Chechen will be staying in the UFC.