McGregor vs. Mayweather will take place on August 26th at the T-Mobile Arena in Las Vegas, Nevada.
The ambitious McGregor is 11-plus years younger than Mayweather and has won UFC titles at featherweight (145) and lightweight (155), but he has never participated in a professional boxing match.
Several times over the years, UFC president Dana White has been criticized for over-exaggerating his claims towards a planned fight or fighter.
"He [McGregor] is absolutely 100 percent positive that he wins this fight I stopped doubting Conor McGregor a long time ago", White told ESPN, as quoted by the MMA Fighting. Floyd is very opinionated on a lot of things and he's a smart guy surrounded by smart people. "The sky's the limit on this".
McGregor has shot up the ranks in the UFC and is the biggest draw in MMA history.
Former five-weight world champion Mayweather, widely considered the best boxer of his generation, retired unbeaten in 2015 after 49 bouts.
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The fight is expected to be a pay-for-view blockbuster, as organizers are hoping it can challenge the 4.6 million pay-per-view buys for Mayweather-Pacquiao.
Mayweather is risking his prized undefeated record but McGregor's taunts, a return to the limelight and a huge payout look to have proved too tempting.
Not everyone will be excited to see a Mayweather-McGregor exhibition match, however, especially considering that McGregor is a 25-1 underdog.
"This is not a referendum on the sport of boxing", Espinoza said.
Also, if Mayweather wins against Conor McGregor, he'll be the first boxer to have a ideal 50-0 record.
When asked what this fight means for UFC, White admitted that there is not much in this for UFC, that he agreed to this fight because it is what McGregor and the fans wanted.