LAS VEGAS, Nevada (The Adobo Chronicles) – The biggest and most anticipated sports event of the century is a done deal.

Manny Pacquiao will fight American Floyd Mayweather at the MGM Grand in Las Vegas on May 2.

The champion boxers came to an agreement regarding the much-hyped fight earlier today. The two sides have been trying to work out a deal for a while to square off in Las Vegas  due primarily to their different networks.

The Adobo Chronicles also learned from sources close to Pacquiao that neither boxer will receive a single cent from this mega fight. Instead, both fighters have agreed to donate one hunded percent of their anticipated earnings to a charity of their choosing. That’s more than $200 Million to charity, more than the money raised through the ALS Ice Bucket Challenge last summer.

Pacquiao is reportedly considering donating his earnings to the street children and homeless families who were rounded up and sent to camp at an upscale resort by the Department of Social Welfare to hide them from Pope Francis when he visited the Philippines last month. “The money would be sufficient to build permanent homes for these families and keep the children off the streets for good,” Pacquiao said.

Mayweather has yet to pick his charity.