Conor McGregor vs Eddie Alvarez set for UFC 205 in New York

McGregor last competed on August 20 when he fought Nate Diaz at UFC 202 and won via a majority decision

Conor McGregor will on Eddie Alvarez in New York on November 12 (Getty)

It's been a tense few weeks of negotiations, but it has finally been made official – UFC 205 will be headlined by Conor McGregor taking on Eddie Alvarez in a champion-versus-champion super fight on November 12 at New York, Madison Square Garden. The news was first reported by Twitter user @TalkMMA.

UFC president Dana White then later confirmed the announcement on SportsCenter.

McGregor last competed on August 20 when he fought Nate Diaz at UFC 202 and won via a majority decision. That evening, the Irishman avenged the only loss of his UFC career which took place in March at UFC 196 when Diaz famously submitted him.

The Irishman is currently the UFC’s featherweight champion having won the title back in December 2015, when he knocked out Jose Aldo in 13 seconds at UFC 194. Since winning the belt, McGregor has fought twice, each time against Diaz at 170 pounds. This has caused plenty of controversy with fighters and fans alike who have called for McGregor to defend his title.

Dana White had previously said on multiple occasions that he would like McGregor to rematch Jose Aldo and defend his the featherweight title. McGregor however, seems to have got his way again and the Irishman will keep the strap for the bout with Alvarez.

With the decision made that he will retain his belt, McGregor will now have the opportunity to become the first man in the UFC to hold two belts at the same time. The Irishman was supposed to have this opportunity earlier this year when he was scheduled to face Rafael dos Anjos at UFC 196, Unfortunately, dos Anjos pulled out of the fight with just 12 days remaining so the opportunity was cruelly snatched away from him.

Alvarez, meanwhile, last fought back at UFC Fight Night 90 in July, where he became the UFC lightweight champion having defeated Rafael dos Anjos via first-round TKO. Prior to that, Alvarez had won back-to-back split decisions, narrowly defeating Gilbert Melendez and Anthony Pettis.

A press conference will take place later today at 11pm with both Alvarez and McGregor expected to be in attendance.