Oleksandr Usyk's team expect to finalise a venue and a date for the Anthony Joshua rematch within a fortnight.
Saudi Arabia is being considered as a location for the second fight between Usyk and Joshua, which is set to be scheduled in late June.
Joshua is attempting to reclaim his WBA, IBF and WBO heavyweight titles after suffering a unanimous decision loss at Tottenham Hotspur Stadium in September.
Usyk's promoter Alexander Krassyuk told Sky Sports: "Within the next two weeks we expect to finalise details."
Joshua could be heading back to Saudi Arabia after regaining his WBA, IBF and WBO heavyweight belts in a rematch with Andy Ruiz Jr in Diriyah in December 2019.
"This location is under discussion at the moment," Krassyuk told Sky Sports last week. "Late June is also the timing we are considering now.
"Many things will depend on how fast we manage to ink the papers. The good thing is that Usyk is already in Europe to start his preparation."
