Anthony Joshua has agreed to terms to challenge WBC world heavyweight champion Tyson Fury on Dec. 3, with the fight expected to take place at the Principality Stadium in Cardiff, Wales.
However, sources have told ESPN's Mike Coppinger that a deal for the fight remains a long way off.
Joshua's management company 258 said in a post on Twitter: "258 and Matchroom Boxing can confirm, on behalf of Anthony Joshua, that we accepted all terms presented to us by Fury's team for a fight Dec. 3 last Friday.
"Due to the Queen's passing, it was agreed to halt all communication. We are awaiting a response."
Although Joshua's management team said they have accepted the 40% split for a proposed fight with Fury on Dec. 3, sources have told ESPN some obstacles remain in the way of a deal.
Fury's promoter, Frank Warren, is trying to secure a site fee that would satisfy Fury's thirst for a sizable purse, sources have said. Venues in Saudi Arabia, which staged Oleksandr Usyk's rematch with Joshua last month, have not shown interest thus far.
Both camps will need to agree upon a deal over how the fight will be broadcast. Fury is signed exclusively to BT Sport, while Joshua is signed with DAZN, meaning they would likely have to strike a deal for a joint pay-per-view.
Joshua (24-3, 22 KOs) had initially hoped to fight again closer to Christmas -- Dec. 17 -- but Fury (32-0-1, 23 KOs) said the deal hinged on fighting on Nov. 26 or Dec. 3.
The Principality Stadium, where Joshua successfully unified the world heavyweight titles with a points win over Joseph Parker in 2018, could potentially accommodate around 75,000 spectators for Fury vs. Joshua.
With Usyk announcing he will not fight again in 2022 due to injury, Fury switched targets for his next fight and offered Joshua the opportunity to challenge him via social media.
When Fury and Joshua verbally agreed to fight each other in 2020, before both pursued different opponents (Fury fought Deontay Wilder, Joshua fought Usyk), it was claimed the all-English encounter was worth £200 million.
Fury has made two WBC title defences in his second reign as champion and last fought in April when he stopped English rival Dillian Whyte in six rounds.