It’s on! Pacman vs Floyd on May 2

MANILA, Philippines - The fight that will literally stop the world is on.

Manny Pacquiao and Floyd Mayweather Jr. will finally clash on May 2 at the MGM Grand in Las Vegas, with history basking in a neutral corner for the biggest, richest fight of all time.

The fight that has been talked about for over five years is a done deal. In 69 days or so, it will become reality.

Mayweather, the undefeated American superstar, made the official announcement yesterday, ending weeks of “rumors and speculations” about the fight being sealed.

The announcement was made Friday afternoon (US time) as Pacquiao was over 7,000 miles away, perhaps asleep in General Santos City.

“Boxing fans and sports fans around the world will witness greatness on May 2,” Mayweather told the world via social network site Shots.

Pictures of the fight contract, which carried the golden signatures of both fighters, went viral following the announcement.

It will be the biggest boxing match ever, one that should surpass all records in the sport, from the fight purse to all other revenues.

The fight is worth $250 million. Some say it could reach $400 million.

Mayweather agreed to a 60-40 split. Early estimates say he will earn no less than $120 million for the fight. Pacquiao stands to get around $80 million.

Mayweather made true his promise that he would make the fight happen even if it was Pacquiao who did the chasing over recent years.

Still, it was Mayweather who put the final piece to the giant puzzle. He agreed to finally face Pacquiao when he had other options.

Mayweather, undefeated in 47 fights with 26 knockouts, oozed with confidence as he made the announcement.

“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,” said the American champion.

“Manny is going to try to do what 47 before him failed to do, but he won’t be successful. He will be number 48,” Mayweather added.

On May 2, the welterweight titles will be unified, with Floyd staking his WBC and WBA belts, and Pacquiao his WBO crown.

Early odds installed Mayweather as a 3-1 favorite.

In no time, Pacquiao issued his own statement.

“I am very happy that Floyd Mayweather and I can give the fans the fight they have wanted for so many years. They have waited long enough and they deserve it,” he said.

Pacquiao had been to many great fights, including those against Erik Morales, Oscar dela Hoya and Juan Manuel Marquez.

But this should be the greatest.

“It is an honor to be part of this historic event. I dedicate this fight to all the fans who willed this fight to happen and, as always, to bring glory to the Philippines and my fellow Filipinos around the world,” he said.

“It’s going to be a great fight,” said Top Rank chief Bob Arum, who spent countless hours negotiating with Mayweather adviser Al Haymon.

Leslie Moonves, CEO of CBS, which handles Showtime, was the bridge.

“Floyd is a man of his word. He said we can make this fight happen and he made it happen,” said Pacquiao’s chief adviser, Mike Koncz.

Boxing fans had wanted to see the fight as early as 2009 and on at least two occasions it came close to happening.

But something stood in the way each time.

In 2009, Pacquiao filed a defamation case against Mayweather. In 2012, the two parties had an off-court settlement, and talks resumed.

After Pacquiao, who lost two fights in 2012, scored a lopsided decision against Chris Algieri last November, everybody felt it’s time for the Mayweather fight.

But nothing really was certain – until the two boxers came face to face during an NBA game in Miami last Jan. 27.

Pacquiao has always been confident that the fight will take place, and in one of his tweets a few weeks ago, said he can “easily beat” Mayweather.

Everything remains to be seen.

Mayweather is turning 38 in two days and Pacquiao turned 36 last December.

However, on paper, Pacquiao is the older guy with more fights (57 wins, five losses and two draws with 38 knockouts) and tougher battles.

No other details of the fight contract were divulged, although over the past few weeks everybody had something to say.

Other than the purse split, date, venue and weight, reports said both camps have agreed on the drug-testing procedure before and after the fight.

Pacquiao will wear Cleto gloves and Mayweather has chosen Grant.

Showtime, for Mayweather, and HBO, for Pacquiao, will team up for the pay-per-view telecast which may cost at least $89 per household.

There’s a sensitive issue regarding a rematch. No official word was said but insiders hinted that it only comes to play if Pacquiao wins on May 2.

Pacquiao’s trainer, Freddie Roach, thinks that will be the case.

“Floyd should enjoy being the A-Side while he can because on May 2 Manny is going to put him on his backside,” said Roach.

News about the fight being sealed and done raised hell for fight fanatics. In no time, it was reported that MGM rooms have been sold out.

The MGM, however, made a clarification, and said rooms are still available for May 2. Reports said the rates have gone up to $615 per night on fight week.

Ticket prices are highest at $5,000 on official outlets but as the fight draws nearer it will cost twice, thrice or four times as much on the black market.

But there’s no price for history.