Unbeaten boxer Floyd Mayweather will fight UFC lightweight champion Conor McGregor in a much-discussed boxing match on Aug. 26 in Las Vegas, a well-placed source told Yahoo Sports on Wednesday.

Mayweather and McGregor both confirmed the fight on social media on Wednesday.

According to UFC president Dana White, the fight will be at T-Mobile Arena in Las Vegas and will be contested at 154 pounds. It will be a standard, 12-round boxing match with 10-ounce gloves. The Nevada Athletic Commission on Wednesday approved the request from Mayweather Promotions to put on a boxing card on Aug. 26 at the MGM Grand. The venue could change, however, to T-Mobile.

The bout will be distributed via Showtime pay-per-view. It will be an entirely boxing card. Mayweather Promotions will be the lead promoter.

It is a stunning development given that Mayweather, the greatest boxer of his era, had said he was retired after compiling a 49-0 pro record from 1996 through 2015. But with a fight which could pay each man in excess of $100 million, he reconsidered.

Mayweather is considered the greatest boxer of his generation and among the best of all-time. The fight with McGregor, in addition to paying him in excess of nine figures, will give him the opportunity to improve to 50-0.

source: yahoo sports