Anthony Joshua and Tyson Fury will pocket a staggering £73million each when they contest “the biggest fight in the history of the UK”, says the latter’s promoter Bob Arum.

The British heavyweight rivals, who currently hold every recognised world title in the division, are on the verge of agreeing terms for two eagerly-awaited bouts to take place this year.

Joshua and Fury have been on a collision course for the best part of five years, and if WBO mandatory challenger Oleksandr Usyk steps aside as expected, their showdown in 2021 could crown the first undisputed heavyweight king for over two decades.

Tyson Fury's promoter Bob Arum has revealed his showdown with Anthony Joshua will see the pair earn an astonishing £73million each

It will undoubtedly prove one of the highest-grossing sporting events of all time, with Arum revealing both men are set to rake in an eye-watering amount.

Fury’s American promoter told Barbershop Conversation : “The Joshua vs Fury fight will earn each of the guys close to $100million [£73million]. Each of the guys.

Fury is finally set to lock horns with fellow world heavyweight champion Joshua this year

“It is the biggest fight in history in the UK, not even close.

“Around the world it is the biggest fight that people wanna see.”

It remains unclear whether the fight will actually take place in Britain, nevertheless, as America, Saudi Arabia and Dubai have also been earmarked as potential locations.

Arum also says the fight location has been agreed, with Saudi Arabia one of several overseas locations in the running

Arum says a decision has already been made over the venue, adding: “We have a location, that’s true.

“We have a location and, as far as the date is confirmed, we haven’t zeroed in on a date.

“It could be as late as June because it would give more time to solve the coronavirus problem. By June, most people will be vaccinated, so it’s possible.

If Joshua's WBO mandatory challenger Oleksandr Usyk steps aside as expected, his clash with Fury could crown the first undisputed heavyweight king since 2000

“And then we would do the fight, pay-per-view in the UK and pay-per-view early evening in the United States.”

Joshua cleared the path for a historic heavyweight battle with Fury by toppling Kubrat Pulev last month, knocking his IBF mandatory challenger out inside nine rounds.