The WBC heavyweight champion Deontay Wilder and Britain's Tyson Fury must agree to terms on a rematch by February 5th or else it will be put to a purse bid with a 60-40 split in Wilder's favour, the sanctioning body has said.
If the situation goes to a purse bid, any promoter can bid to host the fight, with Wilder getting 60 percent of the winning bid and Fury getting 40 percent as opposed to the usual 70-30 split.
Wilder retained his title after a split decision draw with Fury last month and the WBC quickly sanctioned a direct rematch, meaning mandatory challenger Dominic Breazeale and fellow suitor Dillian Whyte will likely be forced to wait at least a fight longer before competing for the belt.
"The WBC is hereby notifying both camps that the free negotiation period is opened and if there is no agreement between the parties a purse bid will be conducted by the WBC on Tuesday February 5th," the WBC said in a statement.
"The WBC has modified the 70-30 split and has confirmed a 60-40 split in favour of the champion Wilder considering the market value of Fury."
When the two fighters battled to a disputed decision last month in Los Angeles, Wilder scored two knockdowns but Fury beat the 10-count both times and after the bout both endorsed the idea of a rematch.