Michael Chandler and Charles Oliveira will fight for the lightweight championship at UFC 262 in Houston on May 15, the promotion announced Friday.

The news comes shortly after UFC president Dana White announced Khabib Nurmagomedov "officially retired." Nurmagomedov won the then-vacant lightweight title in 2018 and defended the belt three times.

Both Chandler and Oliveira reacted to the reports on social media, expressing excitement about the upcoming bout.

Chandler, 34, defeated Dan Hooker by TKO in his UFC debut in January.

Oliveira, meanwhile, is on an eight-fight winning streak - his last loss dates back to December 2017 against Paul Felder. The 31-year-old's most recent win came versus Tony Ferguson at UFC 256 in December 2020.