Boxing fans have a reason to cheer as the long-awaited fight between Floyd Mayweather and Manny Pacquiao has been finalized for Saturday, May 2.

Boxing fans have craved for the fight between the two giants and finally it will be held at the MGM Grand Garden Arena in Las Vegas. Mayweather made the announcement of the fight via shots.com, a social media website, which also includes a signed contract between the two fighters.

"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. We will make history on May 2nd. Don't miss it!" says Mayweather.

The fight between the two high-profile boxers is predicted to break many financial records and make the highest paid boxers even richer. Mayweather is estimated to make around $120 million or more while Pacquiao may earn about $80 million from just a single fight, and both fighters can expect more from other revenue streams.

While Mayweather spilled the beans about the boxing game, Pacquiao also revealed that he was honored to be part of the event that would make history. The Filipino stated that he dedicates the fight to boxing fans who were eagerly waiting for the boxing rumble. He hopes to win and bring glory to his home country.

Boxing fans have been waiting for a battle between the two for about five years but the fight never happened due to one reason or another. 

Stephen Espinoza, the Executive Vice President and General Manager of SHOWTIME Sports, also revealed his excitement over the upcoming event. During a press conference Espinoza revealed that the boxing community wanted the match and it is happening now.

Ken Hershman, president of HBO Sports, also revealed that they are thrilled to be a part of the boxing match that will take place on May 2. The fight will be jointly telecasted by HBO and Showtime.

Mayweather will soon turn 38 and he is currently undefeated as a professional boxer. The American boxer enters the ring as the favorite. However, the 36-year-old Pacquiao, will be an extremely tough challenger for Mayweather. Freddie Roach, Pacquiao's trainer, predicts a big win for the Filipino boxer.

Both athletes have enough time to prepare for the game. It will be interesting to see who wins the one of the highly-anticipated boxing match in history although it would have been more exciting if it happened three years ago when both were in their peak condition.

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