MANILA, Philippines - The official fight odds aren’t out yet but Manny Pacquiao should be the heavy favorite against Antonio Margarito for their proposed fight on Nov. 13.

Sugar Ray Leonard, the great champion of the ‘80s, has picked Pacquiao as the winner during a video interview with ESNews, and almost instantly the Filipino icon has become the favorite.

Fight observers plying the Internet have placed Pacquiao as a -400 favorite, meaning $400 bet on the 31-year-old Filipino will win a hundred bucks.

Sportsbook.com has yet to come up with the fight odds for the Pacquiao-Margarito bout and up until yesterday what the giant online betting station had were the odds for Pacquiao (+120) against Floyd Mayweather Jr. (-150).

Leonard is only making it easier for those who see Pacquiao as the heavy favorite.

“Pacquiao. With his speed, his ability, his power,” said the American boxer who in his prime waged some of history’s most memorable battles against Roberto Duran, Marvin Hagler and Thomas Hearns.

Leonard knows a great fighter when he sees one, and in Pacquiao he sees the clear favorite.

“He will just overwhelm Margarito with his hand speed, his foot speed. You know,” he said.

“But it’s like I don’t want to say mismatch because there’s a never a mismatch per se between two fighters. But Pacquiao dominates,” added Leonard.

The other day, Pacquiao’s chief trainer, Freddie Roach, said he sees his ward knocking Margarito out once the fight takes place either in Las Vegas, in Monterey, Mexico, in Dallas or in Abu Dhabi.

“Manny will knock him out. We will knock him out,” said Roach of Margarito.

In a previous interview, even before Bob Arum announced that he had chosen Margarito, and not Miguel Cotto, as Pacquiao’s next opponent, the former welterweight champion from Mexico said he’s looking forward to the fight.

“I love to get that fight. I think everyone’s talking about that,” said Margarito, at 5’11 at least four inches taller than Pacquiao, and with a reach of 73 inches will also enjoy a six-inch advantage.

“As long as we’re both with Top Rank the possibility is there,” said Margarito.

And yes, they’re still under Top Rank. No wonder Arum took less than 10 days to convince Margarito to agree to the fight, after negotiations with Mayweather fell off once again.

Arum said the fight contract will soon be in the hands of Pacquiao, and that he doesn’t see anything that should keep the Filipino superstar from putting his signature on the dotted line.

Then the fight is on, and the odds, the official ones, will come out just as soon.