Michael Chandler vs Tony Ferguson at UFC 274 in May

A lightweight bout between Michael Chandler and Tony Ferguson was announced Friday as part of the UFC 274 card, which will take place May 7 in Phoenix, Arizona.

The fight, which will be held at the Footprint Center with the lightweight bout between champion Charles Oliveira and Justin Gaethje as the main event, had been on UFC president Dana White's radar for months.

Chandler is currently ranked No. 6 in the world at lightweight and is a three-time former Bellator lightweight champion, while Ferguson is a former UFC interim lightweight champion and former Ultimate Fighter winner.

How will Chandler and Ferguson get to UFC 274?

Chandler, 35, has a 22-7 record and made his UFC debut against Dan Hooker at UFC 257, but has since lost two straight fights to UFC lightweight champion Oliveira and No. 1 contender Gaethje.

Ferguson (25-6) was riding a 12-fight winning streak, the longest in UFC 155-pound division history, but has recently suffered three straight losses, to Oliveira, Gaethje and Beneil Dariush.

Why does Chandler think he can beat Ferguson?

"I think my biggest advantage, I think I'm just basic and I'm going to keep a high pace, which we know Tony can keep a high pace, but I think it's going to be a little bit sharper," Chandler told CBS Sports.

"I think my power is going to be a lot for him. I think I'm going to have a speed advantage and an athleticism advantage. I think I'm good in all the areas that Tony is good. I think he's got very slick jiu-jitsu. I have yet to ever be caught in a submission, so I don't see Tony catching me in anything like that. But he is very dangerous on the ground," he added.

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