Klitschko – Povetkin purse bid nets $23.3 Million

According to Dan Rafael of espn.com, manager Vlad Hryunov bid an astounding $23.3 millon to stage the Heavyweight unification bout between Wladimir Klitschko and Alexander Povetkin.

The bid is the third-biggest winning bid ever and far exceeded expectations. K2 Promotions, Klitschko’s company, bid $7.13 million and Sauerland Event, which promotes Povetkin, bid $6,014,444 at the ceremony at WBA headquarters in Panama City. The minimum bid was $1 million.

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“We all were totally surprised,” Klitschko manager Bernd Boente told ESPN.com. “We only have to make sure that the money goes into escrow and that it’s real. We are definitely willing to go through with it, but we have to make sure this is not one of those fake Don King purse bids [where he has defaulted multiple times after high bids].”

As champion, Klitschko is entitled to 75 percent of the winning offer ($17,499,997) with Povetkin due the remaining 25 percent ($5,833,333).

Asked whether the purse was the biggest in Klitschko’s career, Boente laughed and said, “By far.” The total is also easily the biggest purse of Povetkin’s career.

“I think this fight will wind up in Moscow,” Boente said.

“Right now the most important thing is that Wladimir wins his fight on May 4 against Pianeta,” Boente said. “Wladimir got the news about the bid and he said, ‘It’s interesting, but to be honest I just take it as news. I am 100 percent focused on Pianeta.’ ”

Hryunov was required to put down a 10 percent deposit with his bid — $2.3 million — as per WBA rules.

“If he doesn’t go through with it, he loses the money,” Boente said, noting that the $2.3 million would be split between the boxers and the sanctioning organization.