THE richest match-up in boxing history between Floyd Mayweather and Manny Pacquiao has finally been agreed after years of haggling.

A source close to the Filipino boxer and congressman revealed that Pacquiao completed his contractual agreements on Saturday and that Mayweather is set to sign and will announce the contest, which is expected to be worth $250-million (about R2-billion), in the coming days.

Mayweather was in New York on Friday, buying jewellery worth thousands, and there are indications that the unbeaten American boxer could even decide to announce the superfight officially at the NBA All-Star Game tip-off, which takes place at Madison Square Garden this weekend. "Manny has 100% signed his side of the deal," the source said. "It is now over to Mayweather to close the deal and announce the fight." Pacquiao revealed at the weekend that he has started training in General Santos City, Philippines for his next fight.

Before his face-to-face meeting with Pacquiao last month at a basketball match in Miami where the pair later met for an hour in the Filipino's hotel suite, Mayweather had appeared on CBS coverage of a boxing event in December and announced that his decision was to face Pacquiao in the ring.

The fight the world has waited for almost six years, looks set to take place at the MGM Grand on May 2, although it is believed that there are two other dates on the table.