Conor McGregor and Floyd Mayweather have reiterated they would be willing to fight each other in a bout that would draw in millions of dollars for the pair.

“I believe the fight could happen. He’s a tough competitor and has proved throughout the years in the UFC that he can fight standing up,” Mayweather told Showtime in Las Vegas on Saturday, where he was attending the Frampton-Santa Cruz fight. “So we’ll just have to see what the future holds. Hopefully we can make the fight happen.”

The former boxing world champion’s comments came after McGregor had addressed the subject of a fight in an interview with MMAFighting.com’s Ariel Helwani. “That fight is being more than explored. That fight has been in the works for a while now,” McGregor said. “It’s a fight the people want. It’s the fight I want.” McGregor added that he believed the bout could happen as early as the end of 2017.

Many have derided any possible fight as a carnival sideshow and Mayweather appeared to suggest that it would not be about a test of skills. “The fans want this fight. The fans have been asking for this fight,” Mayweather said. “It’s all about entertainment. He’s very entertaining. He’s very outspoken like myself. So let’s give the fans what they want to see.”

The UFC president Dana White has offered the pair $25m each to fight but has admitted that sum would be unlikely to tempt Mayweather, who made $100m when he fought Manny Pacquiao in May 2015. McGregor said he believes a sum can be agreed on, however. “I’m happy an offer was made. We’re getting there,” McGregor said. “We’re moving up. It’s still not there yet, but it’s closing in on it. If the Manny and Floyd fight did half a billion, this is a billion dollar fight. People gotta pay for it.”

McGregor is the UFC lightweight champion but said his current focus is on a fight with Mayweather. “The next time I fight, I will step through the ropes with ... gloves on,” McGregor said. “I got my eyes on one thing and that’s Floyd Mayweather.”

McGregor is expecting his first child in the next few months and added that he wants his son to become a fighter too. “I’m going be training that child out the womb.”