Top Rank cut Shane Mosley

Former three-division champ Shane Mosley is a promotional free agent after parting ways with Top Rank not long after his lopsided loss to pound-for-pound king Manny Pacquiao in their May 7 welterweight title bout. Arum told ESPN.com that he had declined to exercise the contractual option he held on Mosley's next fight and notified Mosley in a letter to his manager's attorney. "We are not exercising our option, and we have told that to Shane's people," Arum said. "We like Shane, but we told him the reason was that we didn't want to leave him hanging around waiting, because right now we have nothing for him, so it would be wrong to keep the option and then just do nothing with him. We said if something comes up and he was still available, then I would hope we would be able to make a deal, but right now I don't see anything on the horizon." The 39-year-old Mosley (46-7-1, 39 KOs) dropped to 0-2-1 in his last three fights with the loss to Pacquiao.