After weeks of rumors of possible opponents for former UFC heavyweight champs Frank Mir and Cain Velasquez, it appears they will next be facing each other in a fight with clear title implications.

UFC co-owner Lorenzo Fertitta confirmed the up-coming fight overnight via his Twitter account, although no date has yet been officially set.

Mir (16-5) is no stranger to the big show in the UFC, having split a pair of heavyweight title fights and interim title fights in the course of his 19 Octagon appearances. In his most recent title challenge Mir suffered a devastating knockout loss to Shane Carwin for the interim belt, but he has bounced back with three straight wins, including an arm-snapping Submission of the Night performance over Antonio Rodrigo Nogueira at UFC 140.

Velasquez (9-1) saw his UFC dreams come true in 2010 with a crushing defeat over reigning heavyweight champ Brock Lesnar at UFC 121, only to be sidelined for more than a year with a shoulder injury he suffered in the fight. Velasquez returned at the inaugural UFC on Fox event last November to defend his belt against challenger Junior Dos Santos in one of the most anticipated fights of the year. Unfortunately for Velasquez, Dos Santos needed just over a minute to put his knockout power on display and plant the champ on the canvas with a big right hand for his first career loss.

Velasquez will now have an opportunity to get back on a winning track and into title contention again, but to do so he will need to get past a resurgent Mir, who has aspirations for a fifth UFC title fight appearance of his own. In a fight that will pit one of the division's best wrestlers against one of its best grapplers, one thing seems certain: with only 4 decisions in 31 fights between them, this one promises to bring the excitement.