Conor McGregor signs contract to fight Floyd Mayweather

LAS VEGAS, NV - AUGUST 19: UFC featherweight champion Conor McGregor poses on the scale during his weigh-in for UFC 202 at MGM Grand Conference Center on August 19, 2016 in Las Vegas, Nevada. McGregor will meet Nate Diaz in a welterweight rematch on August 20, 2016, at T-Mobile Arena in Las Vegas. (Photo by Ethan Miller/Getty Images)

(CNN) — The dream “billion dollar” superfight is now halfway to becoming reality.

UFC president Dana White confirmed Wednesday that Conor McGregor had agreed terms to a fight that would see the Irishman face former five-weight boxing world champion Floyd Mayweather.

“The McGregor side is done,” White told CNN affiliate TNT. “I’m starting to work on the Mayweather side now.

“I’m not saying the fight will happen but I got one side done. Now it’s time to work on the other.

“You know, if we can come to a deal with (adviser) Al Haymon and Mayweather, the fight’s gonna happen.”

The main question surrounding the potential bout is the rules the fighters would adhere to, with many concerned that Mayweather’s vastly superior boxing skills would make a standard boxing match a walkover.

When asked what the regulations would be, White said: “Boxing.”

In January, McGregor boldly claimed a fight between him and Mayweather would make $1 billion.

However, that means McGregor vs. Mayweather would need to take in almost double the $600 million the American’s fight with Manny Pacquiao made — dubbed “the richest night in sports history.”

For more than a year, McGregor — arguably UFC’s most recognizable face — and Mayweather have been involved in a war of words on social media, with the undefeated boxer last year offering fans $10,000 to caption a video of the Irishman being beaten up.

“It is an honor to sign this record-breaking deal alongside my partners Zuffa LLC, The Ultimate Fighting Championship and Paradigm Sports Management,” McGregor said in a statement to themaclife.com.

“The first, and most important, part of this historic contract has now officially been signed off on.

“Congratulations to all parties involved. We now await Al Haymon and his boxer’s signature in the coming days.”