Moments ago promoter Bob Arum informed Boxingtalk.com that he has an $8M minimum guarantee for undefeated pound for pound king Floyd Mayweather Jr to face WBO welterweight champion Antonio Margarito at the Thomas and Mack Arena in Las Vegas, Nevada on HBO PPV on October 7. Obviously Arum has wanted a Mayweather-Margarito bout for quite some time, and with the Manny Pacquiao-Erik Morales rubbermatch scheduled to take place on November 18 he has more than one reason to prefer Mayweather-Margarito in October. More to follow, including a full one on one interview with Arum so stay tuned. REMEMBER WHERE YOU HEARD IT FIRST! (10: 45 PM EST)