Floyd Mayweather Jr.
Keith Thurman has given Manny Pacquiao a piece of advice on how to beat Floyd Mayweather Jr. in their highly-anticipated showdown on May 2 at the MGM Grand Arena in Las Vegas, Nevada. Thurman thinks that Pacquiao stay in front, attack, and take the counter to win the fight.IN PHOTO: WBC/WBA welterweight champion Floyd Mayweather Jr. of the U.S. attends a news conference at the MGM Grand hotel-casino in Las Vegas, Nevada September 10, 2014. Mayweather will defend his titles, including his WBC jr. middleweight title, against Marcos Maidana of Argentina in a rematch at the MGM Grand Garden Arena on September 13. REUTERS/Las Vegas Sun/Steve Marcus

Better late than never: a fight that took six years in the making is now officially on. Floyd Mayweather Jr. and Manny Pacquiao will step on the ring for a fight billed as the richest and biggest event in the history of boxing in recent years.

Mayweather took to social media application Shots to announce the superfight on Feb. 20. Mayweather and Pacquiao will fight at the MGM Grand Arena in Las Vegas, Nevada on May 2 in a joint pay-per-view broadcast on HBO and Showtime.

Social media users -- from boxing personalities, celebrities and even ordinary people -- went crazy after two of the world’s greatest welterweight fighters sealed the deal. The reactions were all the same; they were all extremely excited to witness Mayweather and Pacquiao’s May 2 showdown. Check out the tweets from celebrities about the Mayweather-Pacquiao fight.

After six long years, the fight that every boxing fan has been craving is set. According to Pacquiao’s adviser, Michael Koncz, the decisive moment came when Mayweather and Pacquiao met face to face during a National Basketball Association game between Milwaukee Bucks and Miami Heat.

Koncz revealed to Boxing Scene that Mayweather told them that the fight is on via a text message. He said that he was thankful for everyone who made the fight possible even though the situation surrounding the superfight was complex. Koncz added that he has a high regard for Mayweather for making the fight happen.

“It was a long hard road, but now, fight fans will be able to judge who is the best (between Mayweather and Pacquiao),” Koncz said. “Fans will see a different Manny Pacquiao and will enjoy a tremendous fight.”

Details About Mayweather-Pacquiao Fight

After the official announcement, the terms for the Mayweather-Pacquiao fight have also been revealed. Bleacher Report detailed the conditions in the fight contract gathered from credible sources such as ESPN’s Dan Rafael, Yahoo Sports’ Kevin Iole and Las Vegas Journal’s Steve Carp.

Some of these conditions are as follows: there is no rematch clause. Mayweather will get the lion’s share of a 60-40 purse split, and both fighters will use their normal gloves.

Pay-per-view cost could be a record-high $89.95 (additional $10 for high definition). It will be a joint pay-per-view between HBO and Showtime. HBO airs Pacquiao’s fights while Showtime holds the rights for Mayweather’s fights. Mayweather Promotions will be the lead promoter.

The bout will be at 147 pounds. Three titles will also be up for grabs: Mayweather's World Boxing Council and World Boxing Association titles as well as Pacquiao’s World Boxing Organization’s welterweight title.

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