A potential fight between Floyd Mayweather Jr. and Manny Pacquiao has been one of the most anticipated matches in boxing history. And while talks between the two have been going on for years, both fighters have reportedly agreed on a deal, according to TMZ.

"A source involved in the negotiations tells TMZ Sports both fighters have agreed to fight and a date and location (Vegas) have already been set," TMZ reported in an announcement Friday after both fighters met at a Miami Heat game.

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Mayweather recently announced that he plans to fight May 2 at the MGM Grand in Las Vegas and finally called out Pacquiao during a Showtime interview. However, a deal still hasn't been officially inked down and agreed upon by both parties.

"The source says the formal agreement has not been signed but everyone expects the signatures 'soon'. Negotiators are putting 'finishing touches' on the deal," TMZ added.

Pacquiao, his training camp, and major executives from Showtime and HBO have already been eager to get a deal done for the fight. The only major obstacle holding up the match from happening right now is simply whether Mayweather wants to put his undefeated record on the line and sign the contract.

Mayweather only has two more fights on his current deal with Showtime, and will likely retire soon after. But many boxing enthusiasts feel the champion's legacy after retirement could depend on whether he takes the fight with Pacquiao or not.

"It will haunt them forever if it doesn't happen," Pacquiao's trainer Freddie Roach said on Mayweather's training camp. "They will always be in a conversation and someone will say 'why didn't you fight him?'"

Boxing fans have wanted this fight to happen since 2009, and if a deal is officially made, it should be able to reach over 3 million pay-per-view buys - potentially making it the richest fight in boxing history. 

TagsFloyd Mayweather Jr, manny pacquiao, Boxing, Showtime, HBO, TMZ, fighting