At long last, it's happening. It's finally happening.

Manny Pacquiao and Floyd Mayweather Jr. have agreed terms and set date of May 2nd for their first fight, which is already being tipped as the highest-earning boxing match in history.

The two met, surprisingly, for the first time at a Miami Heat game in Florida and hashed out the details in person. It's understood that the purse will be split 60-40 in Mayweather's favour, with both expected to earn over $100 million between them.

What's more interesting is that the fight will be simulcast on HBO and Showtime, something that hasn't been done since 2002's Tyson v. Lewis matchup.

The fight will take place in the MGM Grand in Las Vegas, Nevada with prices expected to hit upwards of $20,000 for a ringside seat.

Already, some quarters are expressing dismay that the fight is simply five years too late, with both fighters beyond their prime.

Whatever the case may be, the fight will answer the question once and for all - who is the greatest boxer of this generation? Let us know in the comments!