The Klitshcko and Hay teams came to a compromise over the match after long and hard negotiations. There were even fears the bout would never take place. The contract was finally signed on May 2.

Wladimir Klitshcko (52-3, 46 KOs) dominates the heavyweight division, holding the IBF and WBO titles.

David Hay (22-1, 22 KOs) is a former undisputed cruiserweight champion, who owned the WBA, WBC, WBO and The Ring magazine titles, which he gave up to pursue his ambitions in the heavyweight division.

Valuev will have his Chagaev rematch

Russia's Nikolay Valuev (R) exchanges punches with Uzbek boxer Ruslan Chagaev during their WBA heavyweight title bout 14 April 2007 (AFP Photo / Oliver Lang / Germany Out)

The World Boxing Association has called for a purse bid on April 13 for a heavyweight championship fight between WBA champ Nicolay Valuev and champion in recess Ruslan Chagaev, Fightnews.com reports

The minimum bid is $1 million, and the purse disbursement will be 55% for Chagaev and 45% for Valuev (50-1, 34 KOs).

According to the rules, the fight has to be held within three months after the bid. So the Russian Giant will face his Uzbek rival by July 13.

Valuev and Chagaev, nicknamed the White Tyson, first fought on April 14, 2007, and the Uzbek boxer won on points to relieve the Russian of his WBA title. The return match was cancelled because of Chagaev’s injury.

Chagaev was named ‘champion in recess’ after that, and received a chance to fight the reigning champion after recovering. And it was Valuev who claimed the vacant belt after beating Sergey Liakhovich from Belarus.

The Uzbek made his return to the ring on February 7, 2009 defeating American Carl Davis Drumond.