Talks for a Manny Pacquiao-Rolly Romero bout have collapsed, sources tell The Ring, scrapping plans for a welterweight fight in the first quarter of 2026. 

The 47-year-old legend told reporters in October in his native Philippines that he was "negotiating and finalizing" a bout with Romero that would take place in January in Las Vegas. 

Talks stalled and the bout was recently being eyed for March, sources said. Now, both sides are moving on. 

Pacquiao (62-8-3, 30 KOs) could still stage a rematch with Floyd Mayweather, 11 years after their record-breaking fight, as The Ring reported in October.

However, Mayweather might first hold an exhibition with Mike Tyson that was announced but still has no date or location.

Pacquiao returned in July — nearly four years after he retired — and exceeded expectations in a draw with Mario Barrios for a welterweight title. 

Romero, meanwhile, hasn’t made a title defense since he upset Ryan Garcia in May. Romero (17-2, 13 KOs) could face mandatory challenger Shakhram Giyasov. 

The unbeaten Uzbek is seeking his first title shot. Giyasov, 32, is rated No 6 by The Ring at welterweight. Romero, who fights out of Las Vegas, is unranked.

Giyasov’s manager, Vadim Kornilov, told The Ring on Monday that the Romero side applied for an exception with the WBA on the basis of the Pacquiao fight to avoid the mandatory and hold an optional defense. 

“I don’t think an exception works when … there’s no fight and it’s not announced,” Kornilov said. “If [the Romero-Pacquiao fight] was happening, that’s one thing; we have a lot respect for a fight like that and for Pacquiao especially. 

“But when there is no fight, I believe that rules have to be followed and Rolly has to fight Giyasov. I never understand why some fighters get exceptions and don’t have to fight their mandatories.”