Ten years since their highly anticipated fight that failed to live up to the lofty expectations, a rematch between two of the greatest boxers in Manny Pacquiao and Floyd Mayweather Jr. is beginning to surface again.

The retired undefeated American is reportedly watching at the ringside of the fight between the comebacking Pacquiao and current World Boxing Council (WBC) welterweight champion Mario Barrios at the MGM Grand in Las Vegas on Sunday, July 20 (Manila time)

And just like in the previous years, that alone was enough to spark a rematch rumor of the bout that first happened in 2015.

But this time, it seemed like where there's smoke, there's fire.

Former Los Angeles Times reporter Lance Pugmire revealed that there's already initial talks on the possibility of the Pacquiao-Mayweather 2 and it could gain more steam especially if Pacquiao manages to pull off an upset against Barrios.

“(I) was told to expect Floyd to attend with two fighters on the card. “Conversations are already happening … if Manny wins, this (rematch) could be worth billions,” I was told,” wrote Pugmire on X (formerly Twitter).

In a guesting on Andre Ward’s All the Smoke Fight Podcast, Pacquiao, who was asked whether he would entertain a rematch with Mayweather, said it will all depend on his American counterpart who has been inactive in pro-boxing since 2017.

"Rematch, with who? With Floyd? I'm still active. It's up to him if he's going to fight," said Pacquiao.

"Even here... even here. Now my right hand is complete. You will see my condition in the fight," added the Hall of Famer laughing while pointing at the boxing ring inside the Wild Card Gym in the background.

Mayweather retired with a perfect 50-0 record with 27 knockouts. He won against Pacquiao via unanimous decision in a match that was dubbed as the richest match in history after earning a record 4.6 million pay-per-view buys and over $410 million in revenue.