Posted by Sabrina B. @gametimegirl

Pound-for-pound king Manny Pacquiao, unable to even get a response from Floyd Mayweather Jr. gauging his interest in a fight, instead will defend his welterweight belt against former champion Shane Mosley on May 7 in a pay-per-view fight at the MGM Grand in Las Vegas.

“We came to a meeting of the minds,” Top Rank promoter Bob Arum told ESPN.com on Tuesday night after a final meeting with Mosley and his adviser, James Prince, at the Top Rank offices in Las Vegas. “[Top Rank matchmaker] Bruce Trample says it’s a very difficult fight. I believe it will be an exciting fight. Shane knows how to fight and how to deal with the speed. Manny is in for a hellacious fight. I really believe styles make fights.”

Arum said the fight will take place at the welterweight limit of 147 pounds.

The deal is not unexpected. For weeks, Arum has been laying the groundwork for the match, an unpopular one with hardcore fight fans because many consider the 39-year-old Mosley (46-6-1, 39 KOs) to be past his prime.

He was routed by Mayweather in May and fought to a desultory draw with Sergio Mora in a junior middleweight fight in September.

But he got the fight over lightweight champion Juan Manuel Marquez and welterweight titlist Andre Berto. Arum had solicited term sheets from all three before going to the Philippines last week to attend Pacquiao’s 32nd birthday party and to go over the particulars for all three potential opponents.

Arum said Pacquiao (52-3-23, 38 KOs) settled on Mosley during a meeting last week and that he wrapped things up with Mosley on Tuesday.

“I think it’s a good fight. I feel that Shane is one of the toughest guys left out there right now,” said Freddie Roach, Pacquiao’s trainer. “He didn’t get up for ‘The Contender’ guy [Mora], but he will get up for Manny Pacquiao. It’s a difficult fight because Shane has speed and power. He’s getting a little older, which is in our favor, but I expect Shane to be at his best because he’s wanted this fight for a long time. I will get Pacquiao well prepared for this one.”

Dan Rafael covers boxing for ESPN.com.