Ellerbe, the chief executive of Mayweather Promotions, told the boxingscene.com website that not even the prospect of another lucrative payday would tempt Mayweather back into the ring.
Mayweather is believed to have earned an estimated $300 million from the points victory over Pacquiao, which remains the most lucrative fight in history and generated more than $600 million revenue.
Pacquiao’s long-time trainer Freddie Roach said last week he would be keen for the Filipino icon to set up a rematch with Mayweather after a frustrating defeat in the first meeting.
However while Mayweather will be at ringside for Pacquiao’s world title fight against Keith Thurman in Las Vegas on Saturday, Ellerbe says there is no chance of a rematch. AP