It’s about time.

Finally, after five years of on-again-off-again discussions, we’re finally getting the fight we all want to see.

Floyd Mayweather Jr. (47-0, 26 KOs) vs. Manny Pacquiao (57-5-2, 38 KOs), May 2 at the MGM Grand Garden in Las Vegas. This is a fight that is projected to be the highest earning in boxing’s illustrious history, with Mayweather making at least $120 million and Pacquiao earning $80 million.

On Friday, Mayweather announced that he’s agreed to fight Pacquiao in a welterweight bout, via the app Shots. The bout is expected to set numerous records, including purse size, live paid gate and pay-per-view sales. The cost of the pay-per-view has yet to be determined and won’t be until there are deals with distributors.

In the announcement, Mayweather posted a picture of the contract with both his and Pacquiao’s signatures.

 “This will be the biggest event in the history of the sport,” Mayweather said in the post. “Boxing fans and sports fans around the world will witness greatness on May 2. I am the best ever, TBE, and this fight will be another opportunity to showcase my skills and do what I do best, which is win.”

The bout between the two has been called for since late 2009 when Pacquiao put on a boxing clinic against Miguel Cotto.

Pacquiao’s performance elicited the question of who was the better pound-for-pound fighter between he and Mayweather. Since 2009, there have been enumerable reasons why the fight wasn’t happening, most of which appeared to come from Mayweather’s camp.

The two nearly came to an agreement in 2009, a month after the Pacquiao-Cotto fight. Unfortunately, talks were halted due to the lack of respect Mayweather felt boxing promoter Bob Arum demonstrated when Mayweather demanded drug testing during Pacquiao’s training camp.

Analysts thought Mayweather was afraid. Many think he has never fought an opponent such as Pacquiao with such a contrast in style, but is nearly as equally gifted, physically.

Pacquiao is a vicious left-handed puncher with lightening speed and quickness Mayweather has yet to see in the ring. However, Mayweather’s legendary defensive prowess could quell Pacquiao’s abilities and create an advantage for himself. He has an innate sense of timing and can see punches coming that others can’t, which will help his chances.

Mayweather said the fight is happening now because he thinks the timing is best, since his reputation and status have grown from the time when the fight was first presented. Because of his growth in status, the fight is expected to exceed $3 million in pay-per-view sales and an online sports book has the over-under at $3.15 million.

“Everybody was talking about it, and it didn’t happen, and then it started up again and it didn’t happen again,” Mayweather said to Yahoo! Sports. “They say three strikes, and you’re out, and I guess the third time is a charm.”

Both fighters have colossal followings, so depending on who you ask, you’ll get either Mayweather or Pacquiao winning the match.

For now, I’ll remain neutral and hope for a fight that exceeds the hype. Forget the pay-per-view sales.