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A mega-money showdown between Manny Pacquiao and Oscar De La Hoya has moved a step closer following a meeting in Los Angeles.

Golden Boy Promotions chief executive Richard Schaefer met with Top Rank's Bob Arum, who looks after Pacquiao, to open up discussions about a potentially clash on December 6.

The MGM Grand in Las Vegas would be the most likely venue, however issues are likely to surround money and the weight the two fighters will meet at.

De La Hoya is a six-weight world champion and although he has campaigned at middleweight, he has slimmed down to light-middleweight for his last three fights.

Four-weight world champion Pacquaio, though, last fought at lightweight - winning the WBC title - some 15lbs lighter than De La Hoya.

"We met and there are some issues, but it was a good meeting," Schaefer told ESPN.com.

Talk

"I think what it will take is for Manny to give and for Oscar to give to get a deal done. That's pretty much what it is. But the fact that we had a two hour-plus meeting is obviously a good sign. If it had been a five-minute meeting it would indicate the gaps are too big.

"What Bob needs to do is talk to Manny and I need to talk to Oscar. I'm going to talk to Oscar face to face when he comes to Los Angeles next week. But this was a good first step. We had a very good, a very cordial meeting. We talked about a lot of things."

Arum added: "We had a nice meeting, a very productive meeting. Richard is going to talk further with Oscar next week. Manny is going to Beijing for [some of] the Olympics and I will talk to him soon.

"Richard and I can make a deal, but we are not the guys doing the fighting. It's going to be up to the fighters. There will have to be movement on both sides. Hopefully, there will be movement. We want to make a deal, Richard and I. Whether it can be made or not, I don't know. It will take give and take on both sides, like in any negotiation."

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