Floyd Mayweather and Manny Pacquiao will meet in a professional fight at Las Vegas's Sphere this September, Netflix announced Monday.

The bout between two of boxing's biggest names, who famously fought a blockbuster clash in 2015, comes days after the 48-year-old Mayweather announced he is coming out of retirement, and will be broadcast live on the global streaming platform.

"Floyd and I gave the world what remains the biggest fight in boxing history. The fans have waited long enough -- they deserve this rematch," said Pacquiao, 47, in a joint statement.

Mayweather beat Pacquiao in their money-spinning 2015 "Fight of the Century" which largely failed to live up to the hype.

Mayweather is believed to have earned an estimated $300 million from the points victory over the Filipino icon, which remains the most lucrative fight in history and generated more than $600 million revenue.

Former multi-weight world champion Mayweather retired from boxing in 2017, unbeaten in 50 bouts, though he has continued to fight in exhibitions since, including an upcoming clash this spring with Mike Tyson.

Pacquaio ended his four-year retirement last year, held to a draw by Mario Barrios in Las Vegas.

But rumors of a Mayweather-Pacquiao rematch have circulated for years, and speculation soared following Mayweather's announcement last week that he would return to the professional arena this year.

"I want Floyd to live with the one loss on his professional record and always remember who gave it to him," said Pacquiao, in the statement.

"As always, I dedicate this fight to my fellow Filipinos around the world and to bringing glory to the Philippines."

Mayweather said: "I already fought and beat Manny once. This time will be the same result."