• Manny Pacquiao (L) and Floyd Mayweather Jr. (R)

Manny Pacquiao (L) and Floyd Mayweather Jr. (R) (Photo : Reuters)

One of the most anticipated boxing matches in history has been set for May 2. It will include the pound-for-pound masters Floyd Mayweather Jr. and Manny Pacquiao  

The fight will be the apex of five years of rumors that the world's top two boxers would battle it out. However, it had been delayed due to several negotiations' failure.

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On May 2 at  Las Vegas's MGM Grand, the two fighters will unify their welterweight world titles. However, in the past few months much effort has been used to make the fight a reality.

Experts believe that the match will take the title for the richest one in the history of boxing. It will also determine who's the top boxer of this era.   

The split for the fight will be 60-40, with Mayweather receiving 20% more of the revenue. Experts believe that the fight will earn approximately $400 million, according to ESPN.

Mayweather has a contract with Showtime, while Pacquiao has an agreement with HBO. The two cable networks had tough negotiations to plan the airing of the fight.     

On Friday afternoon Mayweather announced the fight on Shots, a social media platform. He referred to the importance of his private talk with Pacquiao on Jan. 27, after a Miami Heat game.  

Meanwhile, Pacquiao stated that he was honored to be a participant in the event. He wants to bring glory to the Philippines.  

Mayweather said of the fight that on May 2 sports fans worldwide will witness his greatness. The undefeated boxer believes that he will win his 48th fight on that date.

Based on his contract, Mayweather had the legal right to announce the boxing match. So he was disappointed when Pacquiao's promoter Top Rank leaked the fight's announcement.

In 2009, the two boxers almost agreed to the dream match. However, Pacquiao and Bob Arum, his promoter, opposed Mayweather's request for drug testing during training camp, according to Yahoo.