The Manny Pacquiao versus Chris Algieri deal has been finalized and the bout is set to take place on November 22 at the Venetian Macao luxury hotel and casino in China.

The decision was made after Algieri, Joe DeGuardia, the Star Boxing promoter, Artie Pelullo, the Banner Promotions man, met together for several hours last Tuesday to decide on the final agreement.

The terms of the agreement had not been disclosed to the public, but DeGuardia has said that Algieri will get to earn a career high pay day of more than $1 million. The amount specified is more than 10 times his previous biggest pay day, which was $100,000 to win his junior welterweight world title last June 14 in the Barclays Center in Brooklyn, New York.

Also, sources say that this proposed showdown between the Filipino boxing icon and Algieri is in danger as Algieri is demanding bigger purse to fight him in Macau. The newly-crowned WBO light welterweight champion has already been offered a seven digit fight purse. Algieri's promoter, Jose DeGuardia says that he has not heard anything on the matter and if Algieri fails to decide on the matter soon, they will lose the offer.

"I took a calculated risk with the Ruslan fight and took short money because of that reason. I was really unknown at that point. I'm not an unknown anymore," Algieri says, "If we're going to make this fight happen, I value myself and my health very highly and what I've been doing for the past 20 years. I just want what I deserve."