With Top Rank promoter Bob Arum declaring a May fight between Manny Pacquiao and Amir Khan a “dead” deal, Amir Khan and his representatives aren’t so accepting of Arum’s position about the fight.

A source close to Khan tells ESPN that they are still hopeful that the fight will come together and are optimistic that it will.

“If it is going to happen, something will happen [be agreed] in the next couple days. There are a group of people with businesses in the U.K. who Amir knows well, and they are handling the negotiations for the Pacquiao fight for him.

“They are still confident that it can materialise. They think the money in the UAE is not an issue. There are people in the UAE keen to have the fight on.”

That “money” would be a supposed $38M offer to hold Pac-Khan in the UAE, an offer Arum doesn’t deem legitimate by saying the money hasn’t materialized. Arum says he’s now presenting Pacquiao with an alternative offer for his next fight, but won’t comment on the who, where, or when until Pacquiao accepts the proposal.