A potential record fight-night between the world’s most popular boxers has finally been agreed to, as Floyd Mayweather is set to face Manny Pacquiao on May 2 in Las Vegas.

A fight between both has long been touted but will only now take place at the MGM Grand arena following months of negotiations, with Mayweather confirming the fight by posting a picture of the signed contract via a photo sharing app late on Friday.

Mayweather reportedly insisted on having the right
to announce the bout, as well as getting concessions from the Pacquiao camp on who enters the ring first, tbe type of gloves to be used and most of all, a reported 60-40 split of proceeds generated by the fight.

Afterwards, the 37-year old American stated via his webpage, “What the world has been waiting for has arrived. Mayweather vs Pacquiao on May 2, 2015, is a done deal. I promised the fans we would get this done and we did.”

Mayweather added,”Giving the fans what they want to see is always my main focus. This will be the biggest event in the history of the sport. Boxing fans and sports fans around the world will witness greatness on May 2.”

The welterweight title fight is expected to be the most lucrative in history with both boxers set to earn about $250m. The fight is also expected to be have the highest ever pay-per-view numbers.

On his part, Pacquiao stated via his twitter account that “I am very happy that Floyd Mayweather and I can give the fans the fight they have wanted for so many years.”

The 36-year old Filipino further stated that “I dedicate this fight to all the fans who willed this fight to happen and, as always, to bring glory to the Philippines.”

Pacquiao currently holds the WBO title belt and has a record of 57 wins and five losses while Mayweather; who turns 38 on Tuesday, holds the WBA and WBC belts with an enviable record of 47 wins from 47 professional fights.