The pair have long been reported to be in discussions to square off in what could be a potentially record-setting pay-per-view buyrate, and the promoter said that he is happy to sit down with Mayweather's team to discuss the options.
"It's stupid if the fight doesn't happen," BoxingScene.com quotes Arum as saying.
"They owe it to the sport. [The fight can be made] if people stop posturing, absolutely it can happen. We've announced that we're willing to make it happen.
"Now someone has got to sit down with us and explore how it can happen. Isn't that the way normal people deal? You can't wave a wand, I've said unequivocally we're ready to sit down and see if a deal can be reached."
The unbeaten Mayweather has also been linked with a clash with Amir Khan next year.