Manny Pacquiao Reveals Jessie Vargas Fight Agreement, Talks Comeback Reasons

Filipino boxing legend Manny Pacquiao has confirmed he will come out of retirement to fight WBO welterweight champion Jessie Vargas on November 5. 

Pac-Man, 37, officially retired to focus on his political career in the Philippines after he beat Timothy Bradley in April, but he explained that he could not resist the pull of the ring, per AFP (via Sky Sports):

"Yes, the fight is on. I have agreed to a November 5 fight with reigning WBO welterweight champion Jessie Vargas. Boxing is my passion. I miss what I'd been doing inside the gym and atop the ring."

American Vargas, 27, claimed the vacant WBO belt in March with a knockout victory over Sadam Ali, eight months on from suffering his only career defeat at the hands of Bradley.

Given that Pacquiao has beaten Bradley twice by unanimous decision in the last two-and-a-half years—their first contest in 2012 was controversially awarded to the American—the eight-division champion will be heavy favourite to prevail against Vargas and take his title.

Per AFP's report, Vargas confirmed last week that he was in talks to fight Pacquiao—who is currently serving his first term as a senator in his home country.

Pacquiao also explained he has financial reasons for coming out of retirement:

"

Boxing is my main source of income. I can't rely on my salary as a public official. I'm helping the family of my wife and my own family, as well. Many people also come to me to ask for help and I just couldn't ignore them.

My entire training camp will be held here in the Philippines so I can attend to my legislative work. This is my campaign promise and I'm determined to keep it.

"

Along with Floyd Mayweather Jr., Pacquiao has defined the last generation of boxing, and he retired following the Bradley fight with a 58-6-2 professional record.

Stephen Dunn/Getty Images

He will hope to edge closer to 60 victories against Vargas and claim a second successive win following his unanimous decision defeat to Mayweather in May 2015's hugely underwhelming Fight of the Century.

It has long been expected that Pacquiao would return to the ring, and his promoter, Bob Arum, previously named Vargas, WBC and WBO junior welterweight champion Terence Crawford and Ukrainian Viktor Postol as his potential next opponents, per the Los Angeles Times' Lance Pugmire.

For many, including FightNights.com, the undefeated Crawford, 28, would have been a preferable opponent to Vargas:

However, the current WBO welterweight champion will provide a difficult challenge for Pac-Man and the Filipino will need to be in top shape if he is prevail in November.

Vargas looked good in his defeat of Ali, he is 10 years Pacquiao's junior and would like nothing better than to claim victory against one of boxing's all-time greats.