The news was revealed by Dana White on Wednesday night
Conor McGregor's return to action seems to be inching closer.
The Dubliner has not fought since his win over Eddie Alvarez in November for the UFC Lightweight Championship. His next fight looks like it will be Floyd Mayweather, in a fight that has been hinted at for months.
Speaking on Wednesday night to TNT after the opening match of the NBA's Western Conference Finals, UFC President Dana White said McGregor's financial terms had been agreed.
"The McGregor side is done. I'm starting to work on the Mayweather side now", White told Shaquille O'Neal. "I'm not saying the fight will happen, but I got one side done, it's now time to work on the other."
Although McGregor's financial terms have been agreed, White said they still have to wait for Mayweather to accept terms. ""If we can come to a deal with [Mayweather's advisor Al] Haymon and Mayweather, the fight will happen."
White also confirmed that it the fight goes ahead, "it will be straight up boxing".
After White's comments were made public, McGregor released a statement confirming the news to TheMacLife.com.
"It is an honour to sign this record breaking deal alongside my partners Zuffa LLC, The Ultimate Fighting Championship and Paradigm Sports Management," McGregor revealed.
"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."
Las Vegas remains the most likely venue for the fight, but a date is not yet confirmed. Dana White had previously revealed he hoped the fight could take place on September 16, but that date is now being used by Canelo Alvarez and Gennady Golovkin.