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Heavyweight champion Wladimir Klitschko, one of boxing history's most dominant big men, will make a mandatory defense against Tyson Fury, a rare opponent bigger than Klitschko, on Oct. 24 at the Esprit Arena in Dusseldorf, Germany, after their camps made a last-minute deal and avoided a purse bid Monday. With a purse bid scheduled for noon ET at the WBA headquarters in Panama City, Panama, Klitschko's K2 Promotions and Fury promoter Mick Hennessy, who had been negotiating for weeks, reached an agreement with four minutes to spare. "It was really intense with the two promoters, K2 and Mick Hennessy, trying to reach an agreement," Klitschko told ESPN.com. "But eventually, we got it done in the final round before the purse bid time. I believe both sides are happy. We want to promote this fight and make it really big. This is a big fight. I think it's a highlight of the heavyweight division."  Had the fight been put up for auction -- Klitschko, as champion, would've been entitled to 80 percent of the winning bid and Fury 20 percent -- the promoters risked losing control of the bout, as representatives for British promoters Eddie Hearn and Frank Warren, as well as Russian promoter Vlad Hrunov, showed up at the purse bid to put in offers for a fight that surely would have garnered a winning bid of at least $15 million. "We had constant conference calls with each other and the lawyers, and then four minutes before the deadline, we reached an agreement," Klitschko manager Bernd Boente told ESPN.com. "I think a good deal is one where both sides are happy, and both sides are happy with this deal. Mick Hennessy and Tyson Fury are happy, and Wladimir and our side are also happy." Boente was in Germany but said he was in constant contact with Hennessy and Tom Loeffler, managing director of Klitschko's K2 Promotions, who was in Panama, as they finalized the agreement. Klitschko will be defending the title at Esprit Arena for the third time. In 2012, he pummeled former cruiserweight champion Jean Marc Mormeck in a fourth-round knockout, and in 2010, he dominated Eddie Chambers before scoring a crushing knockout with five seconds left in the 12th and final round. Both fights drew crowds of more than 50,000 at the indoor soccer stadium, and this is a far more anticipated fight than either of those. Terms of the Klitschko-Fury agreement were not disclosed, but the showdown looms as one of the most significant heavyweight title bouts in recent years, given Klitschko's enormous popularity in Germany and Fury's following in England. This is also a bout fans have looked forward to for a few years. "It is definitely a very big fight," Boente said. "Tyson Fury is a top challenger, without any doubt. It's a tough fight, no doubt." Said Klitschko: "As soon as the fight was on, I could see the interest from the fans [on social media]. It's fantastic. It's going to be a big fight. I look forward to the challenge from Tyson Fury, and I look forward to the promotion and all the crap Tyson Fury is going to do and say. It's going to be fun." The 6-foot-6, 245-pound Klitschko (64-3, 54 KOs), 39, who is from Ukraine and lives in South Florida, will be making the 19th title defense of his nine-year second reign, the second-longest in heavyweight history, behind only Joe Louis, who held the title for more than 11 years. Klitschko's 18 consecutive title defenses are third-most in heavyweight history, behind Louis' all-time record of 25 and Larry Holmes' 20. Klitschko is coming off a one-sided, decision victory against then-undefeated Bryant Jennings on April 25 at Madison Square Garden in New York. With the win against Jennings, Klitschko moved to 25-2 overall in world title bouts. When he faces Fury, it will be Klitschko's 28th world heavyweight title bout, which will break the all-time record of 27 that he and Louis share. England's 6-foot-9, 260-pound Fury, 26, will be Klitschko's sixth undefeated opponent in his past seven title defenses. Fury is known for outlandish trash talk, which undoubtedly will help sell the fight. But Fury (24-0, 18 KOs) has also earned his position as Klitschko's mandatory challenger. He scored a 10th-round knockout of contender Dereck Chisora -- his second win against him -- in their November title-elimination bout. Fury knocked out Christian Hammer in the eighth round on Feb. 28 to stay busy before the title shot. "I promise I won't do a David Haye and s--- myself. I'll KO this super champ. I don't talk unless I can back it up," Fury said in taking a shot at countryman David Haye, who trash-talked Klitschko relentlessly and then did virtually nothing when they met in a 2011 title unification bout, a one-sided, decision loss Haye blamed on a sore toe. Boente said the bout will be televised on HBO in the United States and RTL in Germany -- networks that have contracts with Klitschko. Boente said the outlet in the United Kingdom was not settled and talks are ongoing with ITV, Sky Sports and BT. "We are happy we found an agreement in the end," Boente said. "There are always certain points and certain issues you have to deal with, but the good thing is we reached an agreement, and that's what counts. Maybe it was good we had the pressure of the purse bid to reach an agreement. "Mick Hennessy and myself both said, 'Why is it necessary to give other promoters a chance to outbid us and promote the fight when we could have a nice cooperation?' I am confident we will work together very well. We all want this to be a megaevent. The fight inside the ring could be absolutely thrilling, and we will make sure that there will be a sold-out arena and television viewers around the world for this great fight."
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