By Igor Lazorin, tass

Andrei Ryabinsky, promoter of Olympic gold medal winner and former WBA heavyweight champion Alexander Povetkin, is hoping to finalize a new date for a mandatory bout with WBC champion Deontay Wilder by year's end.

Povetkin was scheduled to fight Wilder earlier today in Moscow, Russia.

Earlier this week, the World Boxing Council officially put a stop to the contest after Povetkin tested positive for the banned substance meldonium.

The WBC has listed the contest, for now, as "postponed." There are conducting an investigation at the moment.

Povetkin's promoter is claiming that his fighter took the drug when it was still legal, last September. The drug became a banned substance on January 1st of this year. But three of Povetkin's tests in the first half of April came up negative for the drug, with the fourth coming up positive late in the same month. Based on that scenario, it is being claimed that he came in contact with the drug at some point in late April.

Unless the WBC officially "cancels" the contest, Ryabinsky plans to pursue a new date - and he's not ruling out the possibility of a lawsuit to get Wilder in the ring. Wilder is also considering a lawsuit, because he feels he is owed the contracted purse of 4.6 million.

"The World Boxing Council has to decide on a new date, or else there will be a decision that the fight is not taking place. We are ready for everything. We believe that any decision to completely cancel the fight would be wrong, but at the same time we believe that it is unlikely to happen," Ryabinsky said. "The fight will take place before the end of the year if is not canceled."

Povetkin has a record of 30 wins (22 by KO) and suffered one defeat. Wilder, who won Olympic bronze in 2008, has won all 36 of his fights and 35 by knockout.