Despite fierce competition from rival networks, Sky Sports has secured the broadcasting rights to the $300 million megabout between welterweight superstars Floyd Mayweather Jr. and Manny Pacquiao.

The event will be transmitted via the Sky Box Office Pay-Per-View platform.

“My team is absolutely thrilled at the news,” said the broadcasting giant’s Head of Boxing, Adam Smith, when interviewed by Sky News. “This is the two iconic fighters of their generation in what will be a wonderful clash of styles. It is rightfully called one of the biggest fights in boxing history – certainly of the modern era.

“We’ve been waiting on this one for years and could have had three (fights) by now, but the important thing is we have this one on May 2.”

This will be the first time Sky has broadcast a Mayweather fight since May 2010. On that occasion THE RING pound-for-pound No. 1 outpointed fellow American star Sugar Shane Mosley at the MGM Grand Garden Arena in Las Vegas, the same venue which will host the Pacquiao clash.

Since that time the U.K. subscription channel BoxNation has televised six consecutive Mayweather bouts but it, along with BT Sports, has been unsuccessful in securing the biggest of them all.

The broadcasting rights are believed to have cost somewhere in the region of £10-£12 million ($14-17 million). Despite no British participants taking part, it is believed that the event will shatter the previous U.K. record of 1.2 million buys for Mayweather vs. Hatton in 2007.

Mayweather will be defending his WBC, WBA, and RING welterweight titles against Pacquiao, who will bring the WBO title to the table.

Tom Gray is a member of the British Boxing Writers’ Association and has contributed to various publications. Follow him on Twitter: @Tom_Gray_Boxing