The highly-touted showdown between Floyd Mayweather Jr and Amir Khan that is reportedly set for May is not yet set in stone as Mayweather's adviser doused cold water on the rumored bout.

In an interview with ESPN, Leonard Ellerbe said that Mayweather vs Khan showdown is not yet a done deal contrary to previous reports, saying that rumors about Mayweather's next fight and next opponent are "hilarious".

"How many times have you heard rumours in this business about things being done and it's not even close to the case?" Ellerbe said. "It's the nature of the boxing business. I've heard Floyd is fighting Tim Bradley next. I heard a lot of things. We just sit back and laugh. It's hilarious."

Ellerbe reiterated that Mayweather is not thinking about his next fight yet. Aside from Khan and Bradley, another rumored possible opponent is Bernard Hopkins, but Ellerbe also laughed at the possibility, saying that these talks are understandable because every fighter wants to get a shot at Mayweather due to the potential huge paycheck at stake.

"I don't know what we're doing next. Floyd Mayweather Jr is the topic of everyone's conversations. I've heard things from we're fighting Bernard Hopkins to Amir Khan. You hear a lot of things that people say and all you can do is sit back and laugh. But it's great to be in a position where everyone wants to fight the king. He represents the biggest payday for any fighter out there if their number gets called," Ellerbe said.

Mayweather is undoubtedly the best boxer in the world today and is the strongest candidate for the Fighter of the Year award. The undefeated American successfully defended his welterweight crown against Robert Guerrero in May and then dominated previously-undefeated Canelo Alvarez in their light middleweight showdown in September.

The Mayweather-Alvarez bout last September 14 broke all-time pay-per-view record as it generated more than $150 million in United States revenue, eclipsing the $136 million pay-per-view revenue of Mayweather's historic showdown with Oscar Dela Hoya six years ago.