Anthony Joshua's fight with Wladimir Klitschko at the Manchester Arena on December 10 is expected to generate over £20 million.
An announcement is expected early this week to confirm Joshua's second defence of his IBF world heavyweight title against Ukrainian Klitschko.
The fight is only happening because Joshua's fellow Briton Tyson Fury twice pulled out of a rematch with Klitschko and is now banned after testing positive for cocaine.
Joshua (17-0, 17 KOs), who was 27 on Saturday, will attempt to become the second Briton to beat Klitschko (64-4, 53 KOs) in consecutive fights when they meet in the biggest fight in Britain this year.
Joshua-Klitschko could smash British boxing pay-per-view and gross revenue records.
The highest number of pay-per-view buys for a bout featuring a Briton was 1.2million for Ricky Hatton against Floyd Mayweather Jr in 2007.
Each 500,000 pay-per-view buys generates £8.5million, plus extra money from the gate and international TV.
If the young versus old clash between two Olympic gold medalists is a PPV hit, it could eclipse the £22million gross revenue that Carl Froch-George Groves made in 2014.
Interest is high in 2012 Olympic gold medalist Joshua as he has stopped all 17 professional opponents and the 21,000 tickets are expected to sell out in seconds.
Klitschko, 40, is attempting to win back one of the three belts he lost to Fury in a shock points defeat that ended his reign of over nine years in November.
Klitschko lost his IBF, WBA and WBO titles that night in Germany and there are hopes that the WBA belt will also be on the line against Joshua.
The Ukrainian has been left frustrated and inactive since that defeat to Fury, who has twice pulled out of a rematch and last week had his boxing licence suspended after testing positive for cocaine.
Joshua, who is based in north London, had been scheduled to make a second defence at the Manchester Arena on November 26. But plans changed when Klitschko was left without an opponent.
Joshua will enter the fight the more active over the last year. He won the IBF title from Charles Martin (WKO 2) in April and then stopped another American Dominic Breazeale (TKO 7) in a first defence in June.
But Klitschko has vastly more experience and was already world champion for a second time after Joshua took up boxing in 2008.
Joshua was seven years old when Klitschko turned professional following his Olympic gold medal triumph at the 1996 Olympics.
Joshua has boxed 41 professional rounds in 17 fight, compared to Klitschko's 368 rounds. The pair also boxed 15 rounds at one of Klitschko's training camps in Austria two years ago.