The biggest hybrid fight of all time will take place in Las Vegas on August 26.
The fight will be televised on pay-per-view on Showtime and would likely gross tens of millions of dollars. "He is absolute, 100 percent positive he will win this fight".
Financial terms were not released, though Mayweather got the greater share of revenue when he fought Manny Pacquiao and is expected to have a similar percentage against McGregor.
Mayweather and McGregor are both superstars in their respective sports, and speculation about a potential crossover fight between the two has been around since 2015, when McGregor said offhand in an interview with talk show host Conan O'Brien that he would be willing to fight McGregor, per ESPN.
Mayweather posted the announcement on social media on Wednesday with the words, "IT'S OFFICIAL!" It could cost in the range of Mayweather and Pacquiao's $100 price tag. Though he hasn't boxed professionally, McGregor did box while growing up and is known for his striking expertise in UFC.
The 40-year-old Mayweather announced his retirement after winning his 49th straight bout against Andre Berto also in Las Vegas in September 2015. It has also intrigued some in boxing, though most dismiss McGregor's chances under boxing rules against one of the greatest defensive fighters in history.
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Despite having little or no boxing experience, White insists his MMA client McGregor is confident of victory.
The fight itself will take place at the MGM Grand Arena and is scheduled to last 12 rounds. Promoters are hoping the trash-talking McGregor can sell tickets.
Although this will be The Notorious Irishman's first orthodox boxing match and Mayweather will go into this cross between a fist fight and a circus spectacle, the Nevada State Athletic Commission have assured their Mr Money that all the relevant licenses and approvals will be forthcoming.
Mayweather, as astute a politician as he is a boxing genius, has timed the event to somewhat upstage his old adversary Oscar de la Hoya's staging of Mexican idol Canelo Alvarez against middleweight knockout supremo Gennady Golovkin.
The Irishman became the first UFC fighter to hold two belts simultaneously when he knocked out Eddie Alvarez in NY last November for the lightweight championship.
McGregor, 28, will be entering unknown territory as he has not stepped into a boxing ring since he was a teenager.
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