By Gregory Stangrit

Last month, Andrei Ryabinsky, promoter for Olympic gold medal winner and former WBA champion Alexander Povetkin (30-1, 22KOs), submitted the winning purse bid to secure the promotional rights for the mandatory fight against WBC heavyweight champion Deontay Wilder (36-0, 35KOs).

Ryabinsky put in a bid of over $7 million to win the promotional rights to the bout. Wilder's side, led by promoter Lou DiBella, put in $5.1 million.

Before the purse bid took place, the two sides were discussing the possibility of a May date in Brooklyn at the Barclays Center. Ryabinsky was very frustrated with the outcome and felt a purse bid was the only way to get a deal done.

There has been speculation on where the fight will end up. That speculation is now over as Ryabisnky has revealed that Russia will indeed become the destination for the contest. No date or venue has been announced, but Ryabinsky has mentioned late May in recent weeks.

"I had several options - cut the money or to create a comfortable environment for Alexander," - Ryabinsky said. "Of course, I've decided to chose the latter. The fight will be in Russia. We will be very happy to have Deontay Wilder and his team as our guests. I do not know who will win in this battle - Alexander or Deontay Wilder. But I want to be calm, I've done everything I could on my end - and now it all depends on Alexander."

Wilder fought in January and retained his title by knocking out Artur Szpilka in the ninth round at the Barclays Center. Povetkin, who was ringside for Wilder's most recent defense, was last seen in the ring in November. He took a stay-busy fight by stopping huge Polish contender Mariusz Wach in the twelfth round. Povetkin has already started training for the bout with Wilder.

Gregory Stangrit covers boxing for