The stakes have been raised in the Jake Paul vs. Mike Tyson fight this summer.

Paul’s MVP Promotions on Monday announced the fight will be a pro boxing match and not an exhibition. Given the age difference between the two, a wide presumption was that the 27-year-old Paul (9-1) and Tyson (50-6), who will be 58 at the time of the fight, would have their bout as an exhibition.

A news release from MVP said the bout will be officially sanctioned as a professional fight by the Texas Department of Licensing and Regulations, which oversees combat sports in the state. The fight is scheduled for July 20 at AT&T Stadium in Arlington, Texas, home of the Dallas Cowboys, and will stream live on Netflix.

The release also said the fight will have 2-minute rounds instead of the standard 3-minute rounds in pro boxing matches. It will be an 8-round fight. The co-feature rematch between super lightweight world champion Katie Taylor (23-1) and unified featherweight champion Amanda Serrano (46-2-1) will feature 2-minute rounds, as well.

“Mike Tyson and Jake Paul signed on to fight each other with the desire to do so in a sanctioned professional fight that would have a definitive outcome,” MVP co-founder Nakisa Bidarian said in the release. “Over the past six weeks, MVP has worked with its partners to satisfy the requirements of the Texas Department of Licensing and Regulations (TDLR) to sanction Paul vs. Tyson and we are grateful that we have gotten to this point.

“MVP has championed fighter choice since its inception, including advocating for women’s boxing to be contested with 2- or 3-minute rounds based on the particular fight matchup. Paul vs. Tyson and Taylor vs. Serrano 2 will both be contested with 2-minute rounds and each megafight will have its winner.”

Netflix, arguably the most popular streaming service in the world, has only done three previous live sports events, and never has done a live combat sports event. The boxing event will be groundbreaking in that regard.

Tyson most recently fought Roy Jones Jr. in November 2020 and left with a draw. But that fight was an exhibition match. It has not been announced if Paul-Tyson will be an exhibition or a pro fight. A pro fight would need the sanctioning of Texas’ combat sports commission. Tyson’s most recent pro fight was nearly 20 years ago in 2005.

Tyson is considered one of the greatest and most dangerous boxers in history. The former undisputed heavyweight champion came to prominence in the 1980s, but suffered a major downfall after he was upset by Buster Douglas in 1990. In 1991, he was arrested for rape and in 1992 was found guilty and sentenced to six years in prison. He served less than three of those years. Upon his release, he returned to the ring and won the WBA title.

He lost that belt to Evander Holyfield in 1996, and in their 1997 rematch, the infamous ear biting incident occurred. Tyson bit off a chunk of Holyfield’s ear. He was disqualified, fined a record amount and had his boxing license rescinded. (The Nevada commission eventually let him be licensed again.) These days, despite those incidents, Tyson remains one of the most popular sports figures in U.S. history.

Paul has wins over former UFC standouts Nate Diaz, Anderson Silva and Tyron Woodley. Against traditional boxers lately, he has first-round knockouts of Andre August and, less than a week ago, Ryan Bourland.