Tyson Fury and Dillian Whyte's negotiation to meet enters final hours before 'purse bids' - will a fight be agreed?

Tyson Fury and Dillian Whyte have until Wednesday afternoon to privately agree a world heavyweight title showdown before 'purse bids' are introduced.

"The WBC has received requests from both sides, Fury and Whyte, to extend the free negotiation period which has been granted," a statement on Friday read.

"If there is no agreement a purse offer ceremony will take place on Wednesday January 26."

Purse bids mean any promoter can enter the negotiations to finance and stage the fight.

Fury has been ordered to defend his WBC championship against Whyte, who has been named his mandatory challenger, by the governing body.

But the WBC have ruled their champion should take 80 per cent of the total purse.

Whyte is currently in arbitration with the WBC.

A statement from the WBC last week said: "If there is no agreement between the parties a purse bid will be held on Tuesday January 18 at noon in Mexico City WBC headquarters."

Fury's preference is to return to the ring on March 26.

Top Rank's Arum, who promotes Fury in the US, told Sky Sports about Whyte: "If he wants the fight and stops messing around, he can get a good payday and prove that he is of a world-class calibre by taking on Fury.

"We'd like to do that fight. It's a good fight for the UK.

"Whyte should sit down with myself and [Fury's UK promoter] Frank Warren and work out a deal for a guarantee, and we'll get this show on the road.

"Come to the table and let's see if we can carve out a real deal.

"Let's quit screwing around."

Andy Ruiz Jr, Robert Helenius and Manuel Charr have all been touted as alternate options to face Fury.

The likelihood of a private agreement between Fury and Whyte seems remote as the clock ticks towards the 6pm deadline, meaning the negotiations will enter a new stage in an attempt to pair the rivals in the ring for an all-British heavyweight title fight.

Sky Sports Boxing schedule

Saturday February 5 in Cardiff
Chris Eubank Jr vs Liam Williams
Claressa Shields vs Ema Kozin - IBF, WBA and WBC middleweight titles

Saturday February 19 in Manchester
Amir Khan vs Kell Brook
Frazer Clarke's pro debut

Saturday February 26 in Glasgow
Josh Taylor vs Jack Catterall - undisputed super-lightweight titles
Nick Campbell vs Jay McFarlane - Scottish heavyweight title

Saturday March 5 in Fresno
Jose Ramirez vs Jose Pedraza

Sunday March 20 in New York
Edgar Berlanga vs Steve Rolls
Keyshawn Davis
Xander Zayas