Intro:

The WBO (World Boxing Organisation) present jewel-laden belt for Pacquiao Mayweather fight.

Script:

The World Boxing Council unveiled the 'Emerald Belt' on in Mexico City.

It is the belt that the winner of the Floyd Mayweather vs. Manny Pacquiao prize fight will take home on May 2nd.

Mayweather and Pacquiao will face off on May 2 in what some have called the "the fight of the century."

The boxers are expected to split $253 million US dollars in one of the most anticipated bouts in the history of boxing.

The belt was hand-made in Mexico by artisans from two workshops.

The green-leather belt is incrusted with 3,000 emeralds and is reportedly worth a cool million - or thereabouts.

Boxing commentator Guillermo Schutz explained the significance of winning a bet.

SOUNDBITE: (Spanish) Guillermo Schutz, Boxing Commentator:

"In some sports medals are given, in others they give rings, and in some others you get trophies. But receiving a belt is a unique feeling a very particular mysticism."

The gold-covered belt has medallions with the faces of Pacquiao, Mayweather, Mohamed Ali and Jose Sulaiman, the late president of the WBC.