Bookmakers have slashed the odds on Amir Khan fighting the legend Manny Pacquiao this year.

However, the odds still suggest that they fight may not take place at all – with conflicting reports on whether the fight will happen.

Although Pacquiao himself has now confirmed talks are ongoing.

My team and I are in negotiations with Amir Khan for our next fight. Further announcement coming soon. #TeamPacquiao pic.twitter.com/nW5jpmwVJs

— Manny Pacquiao (@mannypacquiao) February 23, 2017

Reports suggest that Khan and Pacquiao are close to finalising a deal that will see them fight on May 20th in England – either in Manchester or Khan’s hometown of Bolton.

Khan has not fought since he was knocked out by Saul Alvarez for challenging the WBC middleweight title in Las Vegas last May, whilst Pacquiao won in November beating Jessie Vargas for the WBO welterweight title.

With mixed messages coming from both camps regarding a potential fight, William Hill are offering 2/1 that they meet in the ring at any point in 2017.

Should they fight, Pacquiao is the favourite to win at 1/2 with Khan offered at 13/8.

“Khan vs Pacquiao is a match up that has been long mooted and 2/1 is the shortest price that we have ever offered on it taking place,” said William Hill spokesman Joe Crilly. “In a year of good looking fights, this could be up there with the best.”

Will Pacquiao/Khan take place before the end of the year: 2/1 yes; 4/11 no

Bout betting: 1/2 Pacquiao; 13/8 Khan; 20/1 draw