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Sources: Donald Cerrone, Diego Sanchez agree to welterweight fight May 8

Two of the biggest fan favorites in UFC history -- and a pair of former teammates -- will fight this spring.

UFC veterans Donald Cerrone and Diego Sanchez have verbally agreed to a May 8 contest, sources confirmed to ESPN on Thursday. The bout will be contested at welterweight, sources said.

While both fighters' respective teams have agreed, no contracts have been signed and the fight has not yet been officially announced. Sanchez wrote Thursday on Twitter that the bout against Cerrone will be his "UFC finale."

Sanchez and Cerrone were training partners for many years at the storied JacksonWink MMA gym in Albuquerque, New Mexico, but had a falling out in 2018 when Cerrone left the team. Sanchez has since left JacksonWink MMA, as well.

Cerrone (36-15, 2 NC) is a surefire future UFC Hall of Famer and one of the best fighters of all time who has not held a UFC title. "Cowboy" owns the most wins in UFC history (23), the most finishes in UFC history (16) and the most postfight bonuses in promotion history (18). He is tied for the most UFC fights with Jim Miller (36).

Cerrone, 36, is winless in five straight and trying to pick up his first victory since May 2019.

Sanchez (30-13) in 2005 was the first-ever tournament winner on "The Ultimate Fighter" reality show, which is credited with helping take the UFC to the next level in terms of popularity. His 2009 fight with Clay Guida was inducted in the UFC Hall of Fame's fight wing in 2019.

Sanchez, 39, is tied for the second-most Fight of the Night bonuses in UFC history (7). The New Mexico native is coming off a loss to Jake Matthews at UFC 253 in September but has won three of his past five fights.

MMA Fighting was first to report the agreement for the fight.