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It’s on: Mayweather says he and Pacquiao to meet May 2 in richest fight ever

February 20, 2015
FILE - In this combination of file photos, U.S. boxer Floyd Mayweather Jr., left, prepares to spar at a gym in east London on May 22, 2009, and Manny Pacquiao, right, of the Philippines, weighs in for the junior welterweight boxing match against British boxer Ricky Hatton, May 1, 2009, in Las Vegas. The March 13 , 2010 megafight between Manny Pacquiao and Floyd Mayweather Jr. has been thrown into jeopardy. Mayweather's camp is demanding the fighters submit to Olympic-type drug testing in the weeks leading up to the bout. Leonard Ellerbe, Mayweather's manager, says the fight will not go on if Pacquiao doesn't agree to blood testing under standards followed by the United States Anti-Doping Agency. (AP Photos/Alastair Grant and Rick Bowmer, File)

FILE – In this combination of file photos, U.S. boxer Floyd Mayweather Jr., left, prepares to spar at a gym in east London on May 22, 2009, and Manny Pacquiao, right, of the Philippines, weighs in for the junior welterweight boxing match against British boxer Ricky Hatton, May 1, 2009, in Las Vegas. The March 13 , 2010 megafight between Manny Pacquiao and Floyd Mayweather Jr. has been thrown into jeopardy. Mayweather’s camp is demanding the fighters submit to Olympic-type drug testing in the weeks leading up to the bout. Leonard Ellerbe, Mayweather’s manager, says the fight will not go on if Pacquiao doesn’t agree to blood testing under standards followed by the United States Anti-Doping Agency. (AP Photos/Alastair Grant and Rick Bowmer, File)

LAS VEGAS (AP) — The Fight is finally on.

Floyd Mayweather Jr. will meet Manny Pacquiao on May 2 in a welterweight showdown that will be boxing’s richest fight ever. Mayweather himself announced the bout Friday after months of negotiations, posting a picture of the signed contract online.

The long anticipated bout at the MGM Grand in Las Vegas will almost surely break every financial record ever, and make both boxers richer than ever. Mayweather could earn $120 million or more, while Pacquiao’s split of the purse will likely be around $80 million.

The fight, which matches boxing’s two biggest attractions in recent years, has been in the making for five years. It finally came together in recent months with both fighters putting aside past differences over various issues to reach agreement.