Undefeated boxing champion Floyd Mayweather, Jr. will put his title on the line this spring by taking on fellow veteran fighter Manny Pacquiao.

According to reports, the mega bout will take place on May 2.

Floyd Mayweather Jr. announced Friday that he’s agreed to fight Manny Pacquiao in a welterweight bout May 2 at the MGM Grand Garden in Las Vegas. It’s a bout the public has been calling for since late 2009 and pits the two finest boxers of their generation in a historic event. (Yahoo Sports)

Check out what Mayweather said about the fight going down on the next page…

Mayweather broke the big news after weeks of speculation Friday (February 20).

“I am glad my decision to meet with Manny and discuss making this fight happen helped get the deal done. 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. I am the best ever, TBE, and this fight will be another opportunity to showcase my skills and do what I do best, which is win. Manny is going to try to do what 47 before him failed to do, but he won’t be successful. He will be number 48.” (“Shots”)

Pacquiao has since issued a statement on the fight going down.

“I am very happy that Floyd Mayweather and I can give the fans the fight they have wanted for so many years. They have waited long enough and they deserve it. It is an honor to be part of this historic event. I dedicate this fight to all the fans who willed this fight to happen and, as always, to bring glory to the Philippines and my fellow Filipinos around the world.” (Statement)

Money Mayweather is expected to make at least $100 million from the showdown.

In addition to the future Hall of Famers finally hammering out a deal for their welterweight title unification bout — one that will see Mayweather receive the lion’s share of a 60-40 money split in a fight that could gross around $400 million — rival premium cable networks Showtime, which has Mayweather under contract, and HBO, which has a deal with Pacquiao, went through a brutal negotiation. (ESPN)