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The biggest fight of our lifetimes just took one step closer to becoming a done deal. Last night, UFC President Dana White announced that Conor McGregor had agreed to terms to fight Floyd Mayweather.

As expected, McGregor comes into the bout as a heavy underdog to the undefeated boxer. Although the odds for McGregor initially started at well above +1000, his line has dropped with more and more people angling to cash in on a McGregor upset. Bovada currently lists McGregor has a +475 underdog while Mayweather is a -750 favorite.

While McGregor has signed off on his side of the deal, there’s still quite a bit of work to be done to make the fight official. Mayweather is notorious for his laundry list of demands for big fights and considering the size of the egos of both men, fans should temper their expecations for Mayweather signing anything in the coming days.

Although there is much work to be done in what some believe could be a $1 billion fight, that hasn’t stopped the world of social media from reacting to the recent news of McGregor putting pen to paper. Even the Irishman has gotten in on the act.