MANILA, Philippines -- Top Rank chief executive officer Bob Arum is fed up with Floyd Mayweather Jr., after the unbeaten American boxer refused a 50-50 split for a mega-fight with Filipino superstar Manny "Pacman" Pacquiao.

Mayweather was quoted by ESPN's Sports Center as nixing a fight with Pacquiao if the purse split was 50-50.

"He asks about a 50-50 split and I told him, 'No, that can't happen, but what can happen is you can make more money fighting me than you have made in your career,'" Mayweather said.

In a Boxing Scene interview, Arum said Mayweather's refusal to accept the 50-50 split is the last straw.

"Apparently he is saying he isn't going to do a 50-50 deal. So that is the end of the story. Forget about it. This is like craziness," Arum said.

"I don't want to hear about Mayweather. It is just a waste of time," he added.

Arum said that he was shocked to hear that Pacquiao was fine with a 50-50 split, since "Manny is the box office star, he is the pay-per-view star. He has all the endorsements."

"I would not have done 50-50."

With Mayweather's refusal to accept a 50-50 split, it is likely that the much awaited mega-fight between him and Pacquiao will once again fall through. Team Pacquiao is reportedly close to finalizing a deal for a rematch with Puerto Rican star Miguel Cotto, scheduled for June 9.