Promoter Bob Arum said the lucrative bout between Manny Pacquiao and Amir Khan is off as the Filipino boxing great eyes another opponent.
WBO champion Pacquiao (59-6-2) and welterweight hopeful Khan (31-4) had agreed to meet in April, with the United Arab Emirates the location for the fight.
However, the pair will not be stepping into the ring together, according to Arum.
"[Adviser] Michael [Koncz] is on his way back to meet with Manny but it's kaddish for the UAE deal. It's dead," Arum told ESPN.
"I'm talking to him about another proposal for another fight, not Khan.
"Khan won't be Manny's next opponent."
Arum, however, refused to dismiss the possibility of Pacquiao and Khan locking horns later in the year if the investment group in UAE came up with the money.
"UAE would not happen until November, if it happens at all, but I doubt it will," Arum said.