However, there is still no confirmation of where "The Match of Legends: Manny Pacquiao vs Buakaw Banchamek" will be held.
The exhibition match is being organised by Thailand’s Fresh Air Festival Co Ltd and cinema operator SF Corporation with a budget of 875 million baht (US$25 million).
The pair will fight under international boxing rules, which potentially puts Muay Thai champion Buakaw at a disadvantage. However, the 41-year-old Thai legend is still active in the fight game, whereas eight-division world champion Pacquiao, 45, announced his retirement from boxing in 2021.
The two legends will fight six three-minute rounds with two-minute breaks.
The winner will receive a cash prize of at least 10 million baht (US$289,000), according to the organisers.
The match would offer an unparalleled display of fighting spirit, Fresh Air Festival CEO Vinij Lertratanachai promised when he first unveiled the plan in July.
"We are honoured to have Manny ‘PacMan’ Pacquiao and Buakaw Banchamek for this historic event," he said. "It is a once-in-a-lifetime opportunity you won’t want to miss."
Pacquiao is a national hero in the Philippines, where he has also served as a senator. A legend for his tenacious, hard-hitting style, he is the only boxer to win world belts in eight weight divisions.
Buakaw meanwhile is a Muay Thai icon whose explosive style fuses raw power and perfect technique, leaving spectators in awe.
He is regarded as one of the greatest Muay Thai fighters of all time and is idolised in Thailand.