Manny Pacquiao is set to return to the ring after an absence of more than two years in a welterweight title showdown with unbeaten Errol Spence Jr. 

Pacquiao and Spence announced the fight on social media Friday. It is set to take place on August 21 in Las Vegas, but the venue has not been determined. 

Spence (27-0) will put his WBC and IBF welterweight straps on the line against the 42-year-old Pacquiao (62-7-2), whose last fight was a July 2019 split decision win against Keith Thurman. 

Pacquiao's win made him the first four-time welterweight champion, but he was stripped of that WBA strap in January due to inactivity. 

The 31-year-old American Spence has successfully defended his IBF belt five times since winning it in May 2017 with a knockout of Kell Brook.

He added the WBC title with a split decision over Shawn Porter in September 2019, but did not fight for more than a year due in part to injuries suffered in an automobile accident the following month. 

Spence returned to the ring with a unanimous decision win over Danny Garcia last December.