Mayweather Pacquiao mega bout confirmed

The most anticipated fight in recent years is now confirmed as Manny Pacquiao will meet Floyd Mayweather Jr on May 2 at the MGM Grand in Las Vegas.

The pair met last night at the Nokia Theatre in Los Angeles to confirm the fight, which has been anticipated for the past five years.

The welterweight bout, which figures to be the biggest pay-per-view event in boxing history, will pay Mayweather a reported $120 million while Pacquiao will receive a reported $80m.

Mayweather, the WBA and WBC welterweight champion, carries a 47-0 (26 KOs) record into the bout. Pacquiao, the WBO welterweight champ, sports a record of 57-5-2 (38 KOs).