Since promoters Andrey Ryabinsky of World of Boxing and Don King were unable to make a deal, the vacant interim heavyweight title fight between former titleholders Alexander Povetkin and Bermane Stiverne went to a purse bid on Friday, and Ryabinsky won by knockout.
Ryabinsky, Povetkin's promoter, won the WBC purse bid at a New York hotel with an offer of $3.165 million, easily beating out the two other bids submitted.
Don King, who promotes Stiverne, bid $2.1 million, and Camille Estephan of Eye of the Tiger, which used to work with Stiverne, bid $542,000.
The split is 50-50, so Povetkin and Stiverne are each entitled to $1,424,250 apiece. The remaining 10 percent of the winning bid, $316,500, will go to the winner of the fight as a bonus.
According to the WBC, World of Boxing has 15 days to provide the date of the fight and the location and 21 days to deliver signed contracts to the organization.
So the fight will take place in Russia.. King and Stiverne make loads of money.