Floyd Mayweather Jnr has quashed talk of a return to compete in the 2016 Rio Olympics, while Manny Pacquiao has been offered the chance to bypass qualification and fight this summer.

The International Boxing Association (AIBA) are hoping to push through a hugely controversial proposal that would see professional boxers eligible to compete at the Rio Games. The plans, which are "absolutely possible" according to AIBA president Dr Ching-Kuo Wu, have been met with widespread commendation from the professional boxing world, including former Olympics and world heavyweight champion Lennox Lewis and current World Boxing Council president Mauricio Sulaiman.

Mayweather is one of the countless fighters to have cut their teeth at an Olympic Games before turning professional, with his only career disappointment coming in the 1996 Atlanta Games where he had to settle for bronze after a controversial judges' decision in the semi-final.

But the now-retired 39-year-old insists he has no desire to return to set that right. When asked about the possibility of competing at the Olympics, Mayweather responded: "Absolutely not. For my body to recover from all my fights will be for the rest of my life. I am truly blessed to have been fighting for so much of my life. I had a great run. Ain't no more for this body to heal and rest. I was able to retire from the sport with all my faculties. I did not let the sport retire me."

Pacquiao meanwhile has already been approached with the invitation to fight this summer with the added incentive of not having to go through qualification. According to the Philippine Star, AIBO president Dr Wu has offered the 37-year-old a wildcard ticket, allowing him passage straight into the main draw.

Boxing is the only Olympic sport where professionals are not allowed to compete. AIBA will take a vote within the next three months on the radical proposal.