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He's going to make more money in this one fight than he would do in 5 mma fights, he also just had this first kid, and he loves money, so totally makes sense to do this and cash out.
I don't know about the beating being lesser than in MMA though, boxing is brutal. It's 12 rounds for a start, and focusing mainly on the head.
I don't see it going the distance, Conor will get tired and picked apart when he does, even pillow fist floyd should be able to stop him.
I give conor zero chance of legitimately winning. Perhaps he could "win" by disqualification if he decides to throw some kicks or something, it would be quite the spectacle if he did decide to do that. But I would imagine some pretty intense penalties written into the contract if he were to do something like that so I doubt it happens.