FLOYD MAYWEATHER has declared his bout with Manny Pacquiao on May 2 as “the biggest fight in boxing history.”

Mayweather and Pacquiao went head to head for the first and only time prior to their mouthwatering Las Vegas super-fight at a press conference in Los Angeles on Wednesday.

The pair made statements at a ceremony which made official a bout which is set to be the richest in boxing history, with an estimated shared purse of $250 million (£167m).

Tickets for the MGM Grand showdown — very few if any of which are expected to made available to the public — are said to range from $1,500 (£1,000) to $7,500 (£5,000).

Mayweather, who will take a proud 47-fight unbeaten record into the ring, said: “May 2 is when the world stops — it’s Mayweather-Pacquiao, it’s the biggest fight in boxing history. This is a fight that the world can’t miss.

“It’s all about the best fighting the best and Pacquiao is one of the best fighters of this era.”

The much-anticipated bout has been on the cards for several years but only now have the two teams been able to strike an agreement.

Some believe Mayweather has picked the right time to face Pacquiao after appearing reluctant in recent years primarily over drug-testing procedures.

The Filipino’s aura of invincibility was shattered when he was smashed to a sixth-round knockout defeat by Juan Manuel Marquez in December 2012, although he has since rebounded with three straight wins.

Pacquiao said: “I believe this is what you have been waiting for for five years. Now the fight is on and both of us will do our best on May 2 to make you happy.”