By Chito Ebriega (staff@latinospost.com) | First Posted: Oct 19, 2013 09:59 AM EDT

Manny Pacquiao could still have an opportunity to avenge his loss to Juan Manuel Marquez last December. According to the Los Angeles Times (via World Boxing News), Bob Arum met with Mexican businessman to stage the fifth showdown between the two legendary fighters in Mexico City next year.

Pacquiao is still preparing for his looming showdown with Brandon Rios in November, but talks about his next fight are hovering all over the place.

In the latest report by World Boxing News, the Pacquiao vs. Marquez Part V could still be a possibility despite JuanMa's decision not to fight his Filipino rival ever again.

"That chapter [with Pacquiao] is closed," Marquez told Associated Press writer Tim Dahlberg. "I had a great victory over a great fighter like Pacquiao and I want to keep that great feeling. That fifth fight, I don't see why."

Arum, who has been in the fight-making business since the golden years of Muhammad Ali, has been reportedly approached by Mexican honchos to discuss a potential fifth battle between Pacquiao and Marquez in Mexico's Capital City.

In a June interview with the Los Angeles Times, Marquez opened the window of opportunity for another bout with Pacquiao, if the fifth fight were to be staged in Mexico.

"We offered that to Team Pacquiao and they rejected it," Marquez told Los Angeles Times. "If the Pacquiao team tells me they want to fight in Mexico, yes, I will fight him.

After three controversial battles with Pacman, Marquez finally tasted victory against his Filipino rival by knocking him out in the sixth round of their welterweight fight last December.

"But I want to leave with the feeling I had" in December after knocking Pacquiao out, said the 40-year old Marquez, who is also considering retirement following his 12-round split decision loss to Tim Bradley Oct. 12. "I want to keep that feeling forever." 

Meanwhile, Pacquiao is now at the crucial stage of his training for the Rios fight on Nov. 23 at Venetian Macao in Macau. China.