Anthony Mundine has confirmed former IBF welterweight world champion Joshua Clottey as his next opponent, but expects to keep bleeding money as he chases his world title dream.
Mundine, the No 4 ranked contender for Floyd Mayweather's WBA super welterweight title, will fight 36-year-old New York-based Ghanaian Clottey on April 2 at Newcastle Entertainment Centre.
Clottey (37-4, 22 KOs) beat Zab Judah in August 2008 to win the vacant IBF title, but vacated it the following April without making a defence.
His other big win was a victory over Diego Corrales, while his four losses were all to world champions Manny Pacquiao, Miguel Cotto, Antonio Margarito and Carlos Baldomir and he has never been stopped.
Clottey isn't currently rated, but has won his last two fights and Mundine said he would be a strong and formidable opponent.
"He's got a very tight defence and tries to come back if you put a couple of good ones on him," Mundine told AAP.
"The reason why we've got Clottey is because of his name, his credibility in the business and the man has been in some massive fights and so he's known to the boxing punters."
Mundine lost half a million dollars on his fight with Shane Mosley and anticipates bleeding more money in the short term.
"I'm losing money out of my pocket in order to chase my dreams, but I know if I get my dream then that will be reimbursed," Mundine said.
"I'm going to take a few hits in the pocket before I start to make some money.
"Maybe two more fights - the Clottey fight and the one after.
"But once I start fighting guys like Cotto or a (Canelo) Alvarez, that's when you start getting paid and if you beat Pacquiao and Mayweather you're in the real money.
"But it's not about the money to me, it's about my legacy and legend I want to build and prove a lot of people wrong.
"That I am willing to fight the best, I am willing to stick my neck out trying to do that."
He was surprised by the tactics Garth Wood employed in his loss on Wednesday to Daniel Geale, the only two Australians to have beaten Mundine.
"I thought Geale fought a smart fight," Mundine said.
"I thought he (Wood) fought the wrong fight tactically. He could have roughed him up and come on the front foot rather than try and outbox a good boxer."