The megafight between Manny Pacquiao and Floyd Mayweather is expected to generate more than $400 million which will reportedly break boxing records.

According to The Guardian, the showdown of the two top boxers will earn $74 million from the sale of about 15,000 tickets at the MGM Grand Arena.

The report noted that this figure is "greater than the top three gates in Nevada boxing history" combined which includes Mayweather's fights against Canelo Alvarez (which earned $20,003,150) and Oscar De La Hoya (earning only $18,419,200). The third one is Lennox Lewis' rematch with Evander Holyfield ($16,860,300).

The Guardian noted that tickets at the 16,800-seat venue will be pegged at $1,500 to $7,500 though it has been earlied announced that only a few will be made available to the public.

Aside from the ticket sales, Top Rank CEO and Pacquiao's promoter Bob Arum noted that foreign rights are expected to earn $35 million inclusive of the $10 million for the TV rights in Pacquiao's home country, the Philippines.

The camps of the two fighters, according to The Guardian, agreed to a 60-40 share in revenue favoring Mayweather meaning that they could both go home with a nine-figure purse money.

Tickets for the much-awaited fight, as Inquisitr noted, are expected to be on sale to the public next week though most of the tickets have already been "committed to high rollers, celebrities, other VIPs and individuals associated with the fighters, the promoters, and the fight's corporate sponsors."

Asked about the high demand on the tickets for the fight, Arum said, "It's crazy, but it is what it is. Between the gate, the foreign television sales and the closed circuit, which we can't even calculate yet, you're looking at over $120 million. And that's before one pay-per-view has been sold in the U.S.," Arum was quoted by Inquisitr as saying.

A similar ESPN report said that the fight, which took almost six years to materialize, will also be broadcast in Mexico. Arum revealed that major broadcast networks Azteca and Televisa have bought the rights to air the megafight "for a total of $2.3 million and will televise the fight simultaneously."

Arum added that there was also a "bidding battle" between beer companies Tecate and Corona for them to be title sponsors. The Top Rank CEO said Tecate, which sponsored Pacquiao and Top Rank fights for years, won after bidding $5.6 million against the $5.2 milliond bid of Corona, which has sponsored Mayweather's fights for years now.