Yes, you read that right. The bout is scheduled for May and the two will get in the ring to raise money for charity, an aide to Romney confirms to ABC News.
The Salt Lake City Tribune first reported the news of the fight and in an interview, Romney told them: "It will either be a very short fight, or I will be knocked unconscious."
"It won't be much of a fight. We'll both suit up and get in the ring and spar around a little bit," Romney said.
The match, scheduled for May 15, is part of a several-bout evening in Salt Lake City to raise money for Charity Vision, a group the Romney family has been active with. They traveled with the group last year to Peru and the 68-year-old former Massachusetts governor just returned from a trip to India with the group.
The charity donates medical equipment to doctors and facilities in poverty stricken areas around the world to aid with the eye surgeries.
One of Romney's sons, Josh, described the evening to the Tribune as a "black-tie event" and said the fundraiser will be "patterned after a 1920s-style event."
"We just thought it would be a lot better to provide this kind of entertainment rather than just have dinner and listen to speakers," the elder Romney said.