Report: Mayweather-McGregor set for Aug. 26 in Las Vegas

Conor McGregor's boxing debut is all but official.

McGregor will meet Floyd Mayweather in a long-awaited boxing match on Aug. 26 in Las Vegas, Kevin Iole of Yahoo Sports reports, citing a "well-placed" source.

The megafight will take place at either the T-Mobile Arena or the MGM Grand Garden Arena and will likely be broadcast, with Mayweather expected to make the announcement Wednesday at the earliest.

The news comes mere hours after the Nevada State Athletic Commission approved Mayweather Promotions' request to hold an event on the above-mentioned date at the MGM Grand. The boxer's camp had retracted the bid for the target date Tuesday, only to ask the NSAC to keep it on the docket for its Wednesday meeting. The August pay-per-view will solely feature boxing matches and be distributed by Showtime.

Jeff Sherman of Las Vegas' Westgate sports book has anointed Mayweather a -1000 favorite to McGregor's +650 underdog, according to Iole.

A four-division champion, Mayweather will end a two-year retirement to take on the UFC lightweight champ. "Money" hung up his gloves with a perfect 49-0 record in September 2015 after outpointing Andre Berto.

McGregor, on the other hand, will make his pro boxing debut. "The Notorious" most recently became the UFC's first fighter to reign over two divisions at once with a second-round knockout of lightweight Eddie Alvarez at UFC 205. The 28-year-old holds a professional MMA record of 21-3, with 18 victories coming by way of knockout.