Alex Krassyuk, promoter for WBO, IBF, IBO, WBA heavyweight champion Oleksandr Usyk, openly admits that his team withdrew from the negotiations to make an undisputed fight with WBC champion Tyson Fury.

The two sides were in talks for a fight on April 29 at Wembley Stadium in London. 

After months of negotiations, the fight fell through after both sides were unable to agree on the monetary terms for the rematch.

Usyk had agreed to take a 70-30 split in Fury's favor for the first encounter. Reportedly, Usyk wanted a 70-30 for rematch - if he won the first bout, but Fury wanted a 50-50 split for the second fight.

Eventually, Usyk's handlers felt the negotiations had gone on for too long and walked away.

"There was a question, most frequently asked question and I want to use this opportunity straight away to say we pulled out of negotiations. Team Usyk did that, myself and Egis Klimas we took this decision when we realized and got some proof that the fight is not happening. So the question is off, team Usyk pulled out of negotiations, we initiated that," Krassyuk told ID Boxing.

"This is very important because some people keep asking on social media, 'who did that, what happened?' - so now it's completely clear, team Usyk pulled the plug out. Even if Oleksandr Usyk if would get zero for the fight, it would still not be sufficient for Tyson to cover his [demands].

"Normally when a fighter doesn't want to fight, he asks for something impossible, and then it's not happening. That's according to my experience. I've been in boxing for almost 20 years and that's what I've seen so many times.  When you're looking for an opponent for your fighter and finding a proper option, and he doesn't want to come, he says, 'pay me 100 instead of five.'"