Tyson Fury has promised the biggest British boxing fight since Lennox Lewis knocked out Frank Bruno in 1993 after his bout with Dillian Whyte was confirmed.
Fury will take on domestic challenger in April with the Principality Stadium in Cardiff the frontrunner to host the bout.
The same city held Lewis' clash with Bruno for the same WBC heavyweight world title which now belongs to Fury.
It was Fury's promoter Frank Warren who won Friday's purse bid, offering £31million, of which Fury will earn £25m.
Whyte will pocket the remaining £6m after his representative Eddie Hearn failed with a £24m bid
And Fury said: "I'm coming home baby. Get ready for the biggest British dust-up since Lennox Lewis vs Frank Bruno. History in the making."
Fury's American promoter Bob Arum then tweeted: "Dillian Whyte got what he wished for.
"I look forward to Tyson Fury defending the heavyweight title in one of the biggest all-British showdowns in boxing history. The Gypsy King is coming home."
Fury will be defending his title for the second time having won it from Deontay Wilder in their 2020 rematch.
The self-titled 'Gypsy King' then successfully defended the belt against Wilder in their trilogy bout last October.
He had hoped to then face fellow Brit Anthony Joshua in an undisputed fight but that dream had been vanquished when Joshua lost to Oleksandr Usyk two weeks earlier.
Whyte, meanwhile, has been waiting several years for his shot at the belt and looked to have blown his chances when he was knocked out by Alexander Povetkin two years ago.
But Whyte later avenged his second career defeat before setting his sights on Fury.
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This week, however, he looked set to accept £5m to step aside from the fight and allow Fury to meet Usyk.
Joshua was also willing to do the same, for a price of £15m and a guaranteed shot at the winner of the undisputed fight.
But talks broke down before the purse bid, which had been postponed three times, was finally held in Mexico City on Friday.
