UFC champion Conor McGregor and boxing legend Floyd Mayweather Jr. have finally closed a deal to square off in a highly-anticipated boxing match this August in Las Vegas.

Mayweather posted the announcement on social media on Wednesday with the words, “IT’S OFFICIAL!!!” McGregor, well known for his trash-talking, also posted an announcement saying, “THE FIGHT IS ON,” along with a picture of himself and Mayweather’s father.

The pay-per-view match will take place on August 26 on an all-boxing card that will be promoted by Mayweather Promotions and produced and distributed by Showtime PPV, per Yahoo Sports. The fight is expected to take place at the MGM Grand Garden Arena, but could also take place at the T-Mobile Arena.

Mayweather is widely regarded as one of the best boxers of all time, having compiled a professional record of 49-0 in his career. He retired from boxing in 2015 after a unanimous decision victory over Andre Berto. Prior to that, Mayweather defeated Manny Pacquiao in what became the highest-grossing pay-per-view fight of all time. Initial reports indicated the Pacquiao fight generated more than 4.4 million U.S. buys and more than $400 million in domestic pay-per-view revenue alone, with the event jointly produced by HBO and Showtime. Live gate receipts for the event, also held at the MGM Grand, produced more than $71 million in revenue, compared with the previous live gate record of $20 million (for the Mayweather vs. “Canelo” Álvarez fight).

McGregor is the current UFC lightweight champion and the former UFC featherweight champion. He beat José Aldo for the featherweight title in December of 2015 with a stunning knock out 13 seconds into the first round. He then defeated Eddie Alvarez via TKO for the lightweight title in November of 2016, becoming the first UFC fighter to hold championships in two weight classes simultaneously. He was forced to relinquish the featherweight belt shortly after the Alvarez fight due to inactivity in that weight class. He has a professional mixed martial arts record of 21-3, with 18 of his victories coming by way of knockout or TKO. While McGregor is highly-praised for his striking, he has never boxed professionally or as an amateur.

McGregor first raised the possibility of fighting Mayweather in 2015, with the two engaging in a war of words on social media ever since. UFC president Dana White has been negotiating with Mayweather’s team on the financial split for the fight, with both fighters reportedly set to earn a nine-figure payday for the bout.