Andrey Ryabinsky wins purse bid for Povetkin-Stiverne title fight
Posted: 08 Oct 2016, 04:23
So the fight will take place in Russia.. King and Stiverne make loads of money.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.