New York, April 25 (IANS): It took just 60 seconds for the Floyd Mayweather-Manny Pacquiao showdown to being declared a sold out as boxing fans lapped up the tickets having waited for five years for the megafight, scheduled on May 2.

Every ticket for the event to be held at MGM Grand Garden Arena in Las Vegas was sold within the first minute after being made available to the public, according to TiqIQ, an event ticket search engine, reports Xinhua.

14,000 tickets were released for purchase on Friday and worst seats still cost up to 5,000 dollars.

Although the contest has been set since February, it took an inordinate amount of time for tickets to go on sale due to issues between the two camps in terms of finalising the contract.

Top Rank Promotions owner Bob Arum said he fought tooth and nail to ensure that Pacquiao received a fair deal in the end.

While it took longer than expected, the two sides were able to reach an agreement in time for the fight, and it certainly didn't impact fans' desire to attend.

Mayweather vs Pacquiao is the biggest boxing spectacle in recent memory, and some might argue that it is the most significant fight in the history of the sport.

It comes as little surprise that so many people wanted to be a part of it, and while some were lucky enough to get their hands on the tickets, many others were shut out due to the incredible demand.

Tickets went on sale to the public on Friday, after the two fighters' camps settled contract details and how tickets would be allotted.

Though the starting retail price was $1,500 there were only 500 tickets sold to the general public for boxing's richest fight ever, though the arena holds about 16,000 people.

Forty percent of the remaining tickets went to the MGM Grand and 25 percent to each of the fighters' camps.

The average ticket price sold so far on StubHub is $6,362, ranging from $5,000 to $12,000.