Terence Crawford and Shawn Porter have reached an agreement to fight Nov. 20 at Mandalay Bay in Las Vegas, according to ESPN's Mike Coppinger.

The agreement comes hours before a WBO-mandated deadline that would've triggered a purse bid for the rights to stage the highly anticipated bout.

Porter was the mandatory challenger for Crawford's WBO Welterweight Championship. 

Crawford is signed to Top Rank, with Premier Boxing Champions representing Porter. According to Yahoo Sports' Kevin Iole, Crawford and his camp were growing "frustrated at the inability to land a marquee welterweight opponent for him, most of whom had been with the PBC" prior to sealing this agreement.

Coppinger reported Top Rank will serve as the lead promoter for Crawford vs. Porter, and PBC will share the billing.

Crawford and Top Rank failed to make any serious headway toward an Errol Spence Jr. fight, and Spence's retina injury raises some questions about his next steps. That left Porter as the most obvious candidate for a big pay-per-view.

"Porter is without a doubt Crawford’s toughest fight at welterweight, and I think Crawford may be Porter’s toughest fight," Top Rank vice president Carl Moretti said to Iole. "This fight … wow. It’s going to be something."

Porter is 31-3-1 as a professional, with 17 of his victories coming by knockout. His most recent win was a unanimous decision over Sebastian Formella in August 2020.

Crawford sports an undefeated record with 28 knockouts in 37 fights. He earned a fourth-round TKO of Kell Brook the last time he stepped inside the ring in November 2020.