The camp of boxing icon Manny Pacquiao dismissed speculation that his planned rematch with Floyd Mayweather Jr. would be an exhibition bout, insisting the proposed contest remains a legitimate professional fight.

"It's not going to be an exhibition. The contract was never an exhibition," Jas Mathur, chief executive officer of MP Promotions, told reporters on Monday.

Mathur said neither Pacquiao nor the event's partners, including Netflix, have any interest in staging an exhibition.

He acknowledged, however, that the fight has been postponed, with the camp now targeting late January as the tentative date while contractual issues involving Mayweather are being resolved.

"There are still technicalities that need to be addressed based on Floyd's contractual obligations," Mathur said.

While no exhibition opponent has been identified, Mathur said Pacquiao's camp is also exploring the possibility of staging a separate exhibition later this year.

He added that discussions about another world title shot remain preliminary, with no plans finalized.

Despite the uncertainty surrounding his next fight, Mathur said Pacquiao has remained in fighting shape through regular training.

"Manny is always ready. Even when he's in Los Angeles, he's training and staying prepared," he said.