BoxingScene reported Thursday that both camps have agreed to terms for the Netflix-streamed event, which is expected to take place in Las Vegas.

“Both camps had agreed already on all the conditions,” one connected official told BoxingScene. Pacquiao also told the outlet earlier this week that Mayweather had agreed for the rematch to count officially on both fighters’ records. “The fight is on,” Pacquiao texted BoxingScene.

Mayweather previously suggested in March that the rematch could take place as an exhibition. The change means the result is now expected to affect the official records of both fighters, with Mayweather entering the bout at 50-0.

At 49 and 47 years old, respectively, Mayweather and Pacquiao would become one of the oldest combined age pairings ever involved in a major professional boxing event.

The rematch is expected to land at MGM Grand, the same venue that hosted the original 2015 fight, won by Mayweather by unanimous decision. That bout generated one of the largest pay-per-view events in boxing history and remains closely tied to both fighters’ careers.

Pacquiao last fought at the MGM Grand in 2025 when he challenged Mario Barrios for the WBC welterweight title and fought to a draw. Mayweather, meanwhile, fought at the Las Vegas venue 12 consecutive times between 2007 and 2015, including bouts against Oscar De La Hoya, Canelo Alvarez, and Andre Berto.