Boxing's richest Mayweather-Pacquiao bout finally agreed to be held on May 2nd

Wellington, Feb 21 - The long awaited mega bout between unbeaten US boxing champion Floyd Mayweather Jr and Filipino politician and boxer Manny Pacquiao has finally been agreed upon and it is reportedly projected to be the most lucrative bout ever in the sport's history.

Mayweather revealed that the long awaited bout, which had been more than five years in the making, would take place in Las Vegas on May 2.

Showtime and HBO would jointly broadcast the bout, which is one of the most eagerly anticipated in boxing since the classic 1975 'Thrilla in Manila' between Muhammad Ali and Joe Frazier , Stuff. co. nz reported.

Mayweather, who has a perfect record of 47-0 with 26 knockouts, said that what the world has been waiting for has arrived, adding that the Mayweather vs. Pacquiao bout on May 2, 2015 is a done deal.

The American claimed that he promised the fans they would get this done, and they did, adding that they would make history on May 2nd.

Mayweather made a late-night trip to Pacquiao's hotel in Miami last month to discuss the possibility of a showdown, and the Filipino, an eight-division world champion, signed the contract for the bout on Thursday.

Mayweather claimed that this would be the biggest event in the history of the sport, adding that he is the best ever and this fight would be another opportunity to showcase his skills and do what he does best, which is win.

Mayweather insisted that Pacquiao is going to try to do what 47 before him failed to do, but added that the Filipino won't be successful and would be number 48.

Pacquiao, who has a 57-5-2 record with 38 knockouts, said in a statement that he is very happy that Mayweather and he can give the fans the fight they have wanted for so many years, adding that they have waited long enough and they deserve it.

Pacquiao claimed that it is an honour to be part of this historic event, adding that he dedicates this fight to all the fans who willed this fight to happen.

The welterweight showdown in Vegas is projected to be the most lucrative ever in boxing with Mayweather expected to have a 60-40 split advantage on revenues, earning a minimum of 120 million dollars and Pacquiao at least 80 million dollars, the report added. (ANI)