Former heavyweight world champion Mike Tyson will return to the ring against YouTuber turned fighter Jake Paul as the thirst for crossover boxing matchups shows no sign of slowing.

The two are scheduled to face each other at the 80,000-capacity AT&T Stadium, the home of the Dallas Cowboys, on 20 July. The fight will air live on Netflix, the streaming platform’s first broadcast of a combat sports event.

Related: ‘He’s got that beast in him’: the difficult legacy of Mike Tyson

Paul is 30 years the junior of the 57-year-old Tyson, and the fight will be the subject of criticism from those who believe such fights degrade boxing’s standing. Few can deny they are lucrative though: Paul earned about $9m from a loss last year to the boxer and reality TV star Tommy Fury. July’s fight is likely to earn both men far more.

Paul rose to fame as a YouTube prankster but he has developed a lucrative career as a surprisingly competent, if limited, boxer. Before his loss to Fury, he had got off to a respectable start to his fighting career, compiling a 6-0 record, although some of his opponents were of debatable quality. Since then he has won his last three fights. Paul said he has further ambitions as he approaches his fight with Tyson.

“My sights are set on becoming a world champion, and now I have a chance to prove myself against the greatest heavyweight champion ever, the baddest man on the planet and the most dangerous boxer of all time,” he said. “This will be the fight of a lifetime.”

Tyson, perhaps unsurprisingly, talked up his opponent’s credentials.

“He’s grown significantly as a boxer over the years, so it will be a lot of fun to see what the will and ambition of a kid can do with the experience and aptitude of a GOAT,” he said. “It’s a full circle moment that will be beyond thrilling to watch; as I started him on his boxing journey on the undercard of my fight with Roy Jones and now I plan to finish him.”

The Texas department of licensing and regulation sanctions fights in the state and it is unclear how they will treat a bout involving a boxer who will be 58 by the time the contest comes around. It could go ahead as an exhibition or as an official professional fight.

At his peak, Tyson was the most destructive heavyweight champion of all time, known for his brutal knockout power. His last fight – an exhibition – came in a draw against another former world champion, Roy Jones Jr, in 2020. Paul fought on the undercard of that bout, knocking out the former NBA star Nate Robinson. Tyson’s last professional fight was in 2005, a loss to the Irish journeyman Kevin McBride.

Netflix has been moving into sports in the last few years, most notably with its successful F1 documentary series Drive to Survive. It has broadcast two live sporting events in recent months: the Netflix Slam, a match between Spanish tennis stars Carlos Alcaraz and Rafael Nadal; and the Netflix Cup which featured golfers and F1 drivers competing against each other.