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And boxing fans had hoped that the all-Brit showdown would be held at Wembley as excitement continues to build for the fight.
However, The Athletic reports that the unification bout will be held in Riyadh, Saudi Arabia, in early August.
The publication added that Saudi Arabia is willing to drop a staggering $150m to secure the rights for Joshua vs Fury.
The deal would eclipse the $60m-plus fee that the country splashed out on the 2019 rematch between Joshua and Andy Ruiz Jr in Diriyah.
Fury's co-promoter Bob Arum has plunged the mega-fight in doubt after claiming a July or August date is "dead in the water."
Arum even suggested that Joshua vs Fury might not happen until 2022 as the Brit superstars might face other opponents in the summer "while the negotiations for that fight in the Middle East conclude."
Speaking to The Daily Telegraph, the 89-year-old Top Rank CEO said: "It will take months for the Saudis to do their due diligence on such a huge deal.
"It is not just a site fee, there are ancillary demands from the Saudis stretching into the broadcast deals and other things, it could take months for it all to play out.
"It could even take until 2022 the way it looks right now.
"The fight in July or August is dead in the water as far as we are concerned.
"The two fighters need to go and have other fights this summer while the negotiations for that fight in the Middle East conclude."
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