Don King won the purse bid for the WBO cruiserweight title fight on February 26 by offering $1.5m. However, according to the German promoters, the 81-year-old wasn't able to clear the necessary details within a set period of time and couldn't find a TV partner to broadcast the fight.
Therefore, the World Boxing Organization handed the right to the second highest bidder, Sauerland Event, who made a bid of $914,000.
"We always said that the bid was a bit over the top. It was a fantasy bid, wishful thinking. Now that everybody else has come to the same realization we can start the planning process," said Sauerland Event Managing Director Chris Meyer.
"We have just extended the deal with WBO champion Marco Huck. Over the coming days we will sit down with Tom Loeffler (K2 Promotions), who is looking after Ola Afolabi, and will talk about a date and possible venues.
"We want Huck vs. Afolabi III to take place before the summer break."
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