With a super fight against Floyd Mayweather and a fifth showdown against Juan Manuel Marquez out of the picture at this point, Manny Pacquiao could settle for a title bout against Chris Algieri.

Multiple reports confirmed that Pacquiao could face Algieri, the reigning WBO light welterweight champion, in his next fight scheduled on November 22 at the Venetian in Macau, China.

Joe DeGuardia, Algieri's promoter, said that Top Rank Promotions have already sent an offer sheet to their camp for a possible showdown against the former pound-for-pound king.

Algieri put himself in the running for Pacquiao's next fight after scoring a split-decision win against Ruslan Provodnikov in their title showdown last month at the Barclays Center in New York.

"We have an offer from Bob and we're excited," DeGuardia said via ESPN. "I'm enthusiastic. It's the kind of fight that can push Chris higher up the ladder. He made a huge step in his last fight by winning the title against Ruslan and this would be another huge jump up that ladder."

DeGuardia said that he has already talked to Arum about the fight, including the financial details of the deal.

The Star Boxing promoter refused to reveal the details of the offer. Sources indicated that Algieri could get a seven-digit paycheck, but DeGuardia said that they are expecting a bigger figure, although he quickly added that they are amenable to the current terms.

"When you fight somebody like Manny Pacquiao you're a different player in the sport," DeGuardia said. "Monetarily, it's always important to get what you can get, so while the offer isn't exactly what we wanted the flipside is that there are so many collateral benefits from being in a fight like this. We know Chris brings a lot to the table."

Marquez was previously considered as the top option for Pacquiao's next fight, but the 40-year-old Mexican was reportedly asking for a hefty purse to agree to a fifth fight. The Mayweather fight is understandably out the picture as well because the unbeaten champion is not interested in doing business with Arum.

Aside from Algieri, Mike Alvarado and Luis Carlos Abregu is being considered for Pacquiao next fight. However, fighting Alvarado makes no sense because the former light welterweight champion lost in his last two fights, while Abregu has yet to prove his marketability.