The trunks donned by Muhammad Ali during his historic triumph over Joe Frazier in the ‘Thrilla in Manila’ are poised to reel in more than $6 million (£4.8 million) at auction next week.

These iconic white satin shorts of Ali were listed by the esteemed auction house Sotheby’s on Thursday, with bidding already reaching $3.8 million.

Initially sold for $150,000 in 2012, these autographed trunks by Ali are now anticipated to fetch a staggering 40 times their previous sum.

The auction, hosted at Sotheby’s New York branch, will run until Friday, April 12th.

The ‘Thrilla in Manila’, held in October 1975 in the Philippines’ capital, is a pivotal moment etched in boxing lore. Frazier, nicknamed ‘Smokin’ Joe’, had previously secured victory against Ali in their first encounter four years earlier, marking Ali’s first professional defeat as Frazier retained his world heavyweight title in New York.

Ali clinched a contentious non-title rematch in 1974, setting the stage for a decisive showdown the following year. By then, Ali had reclaimed the world championship by overcoming George Foreman in another iconic bout, ‘Rumble in the Jungle’ in Zaire (now the Democratic Republic of the Congo).

In the third faceoff, Ali emerged victorious after a punishing 14 rounds, with Frazier’s corner retiring him from the match.

Regarded by many as the greatest trilogy in boxing history, these bouts epitomized the sport’s pinnacle.

Alongside Ali’s signature, the Everlast trunks also bear inscriptions by his corner man, Drew ‘Bundini’ Brown, who passed away in 1988. Interestingly, these trunks fetched a mere $1,000 (£800) when auctioned posthumously.

Ali, an enduring icon in sports, passed away in June 2016 at the age of 74 after battling Parkinson’s Disease in his later years. Frazier, on the other hand, died in 2011 at the age of 67.