Floyd Mayweather Jr.,gestures after defeating Manny Pacquiao in a welterweight unification bout on May 2, 2015 at the MGM Grand Garden Arena in Las Vegas, Nevada. AFP PHOTO / FREDERIC J. BROWNFREDERIC J. BROWN/AFP/Getty Images

By Oladapo Okeowo

The much talked about and long-touted fight between multiple-division boxing champion, Floyd Mayweather, and UFC star, Conor McGregor, has been given a real date.

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The bout between two fighters of different martial forms would hold on August 26 at Mobile Arena in Las Vegas. The fight is to be fought within the rules that guide boxing, and not the mixed martial arts of the UFC.

This was confirmed by both fighters on their socila media platforms.

On Instagram, Mayweather put up a promotional video and captioned it “ItT’S OFFICIAL!!! while took to Twitter and typed “THE FIGHT IS ON” under a picture of Mayweather’s father, Floyd Sr.

According to a longtime confidant of the boxer, Leonard Ellerbe, the bout will be for 12 rounds at the junior middleweight limit of 154lbs with 10-ounce gloves.

The Mayweather Promotions CEO added that the financial details including the purse split will not be disclosed and are protected under a confidentiality agreement.

Earlier on Wednesday, the Nevada Athletic Commission approved a request from Mayweather Promotions to host a fight in Las Vegas on 26 August.

This brings to fruition McGregor’s months of pushing for the fight.

The bout is expected to generate enormous interest and Mayweather will reportedly be paid over $100m for the contest.

McGregor, one of the most recognisable mixed martial artists in the world, has never boxed professionally or as an amateur.

Mayweather retired undefeated in 49 professional fights, and is widely recognised as one of the greatest boxers of all time. He is a huge favourite: early Las Vegas odds had him at 1-10 to win the fight with McGregor 7-1.

There has been no shortage of criticism for the fight with some, like Oscar De La Hoya, saying it would hurt boxing.

“With each passing day, it looks more and more likely that the circus known as Floyd Mayweather v Conor McGregor will be coming to town in the near future,” he said, “our sport might not ever recover.”