Donaire's wife, Rachel, who acts as his manager, told Examiner.com they have settled their differences with Top Rank owner Bob Arum, and they are now working on Donaire's next fight.
Last February, Donaire scored a second-round knockout over highly rated Fernando Montiel of Mexico, a win that boosted his rating in the Ring's pound-for-pound ranking.
On his impending ring return, Donaire is looking at some bankable opponents in the bantamweight division. Here is a short list of Donaire's prospects.
Anselmo Moreno (31-1-1, 11 KOs)
Top of the list is WBA bantamweight champion Anselmo Moreno, who recently won over former flyweight champion Lorenzo Parra.
It may be recalled that negotiations were in progress for a Donaire vs. Moreno clash when Donaire left Top Rank and signed with Oscar de la Hoya's Golden Boy Promotions, thinking his contract with Top Rank had lapsed.
A legal battle ensued between the promoters until a settlement was reached a few days ago as confirmed by Nonito's wife Rachel.
Jorge Arce (57-6-2, 44 KOs)
Mexican WBO super bantamweight champion Jorge Arce is fresh from his victory over Wilfredo Vazquez Jr. last May.
Arce, who is the first Mexican boxer to become a world champion in four separate weight divisions, has 65 fights to his credit since turning pro.
Arce is the best bet for Donaire if the Filipino Flash really intends to move up to super bantamweight as he has originally planned.
Abner Mares or Joseph Agbeko
Mexican Abner Mares and Ghanaian Joseph Agbeko are set to face each other in the ring on August 13 at the Hard Rock Hotel and Casino in Las Vegas, Nevada. The winner of this fight will become a natural opponent for Donaire.
Mares, who is only 25 years old, is undefeated in his professional career, with 22 fights to his credit. His KO average is around 60 percent.
Agbeko (28-2, 22 KO) is a former IBF bantamweight champion. Agbeko and Mares were scheduled to clash last April, but Agbeko begged off due to injury.
Eric Morel (42-2, 21KOs)
Rated in Ring's bantamweight ranking, Eric Morel could be another worthy opponent for Donaire. At 36, Morel carries a professional record of 44 outings and lost only twice.
Morel has won his last three fights, including a win over highly rated Gerry Penalosa in February 2010. His last fight was in April, against Luis Maldonado.
Fernando Montiel (44-3-2, 34 KOs)
Former WBC bantamweight champion Fernando Montiel seems ready for a rematch with Donaire after an impressive knockout victory over Venezuelan Nehomar Cermeno last June 25.
Montiel lost his WBO/WBC bantamweight title to Donaire last February 19 at the Mandalay Bay in Las Vegas, Nevada.
Montiel's loss to Donaire was his first TKO loss in his professional career.