NEW YORK, JUNE 10 -- Las Vegas casino owner Steve Wynn won the right to promote Buster Douglas's first defense of the heavyweight championship, against Evander Holyfield, with a purse bid of $32.1 million.
Promoter Dan Duva of Main Events, the only other bidder, bid $29,101,000.
Douglas, who won the title Feb. 11 by upsetting Mike Tyson in Tokyo, is guaranteed 75 percent of the bid, which amounts to $24,075,000. Holyfield, rated as the No. 1 contender by the World Boxing Association, the International Boxing Federation and the World Boxing Council, gets 25 percent, or $8,025,000.
The purse bid was conducted by the WBA, whose turn it is to have a mandatory title defense, because no promoter was able to sign the fight. The match is scheduled for Sept. 20 at Wynn's Mirage Hotel and Casino.
Douglas and Wynn are engaged in litigation against promoter Don King in federal court in New York. Douglas is trying to break his promotional contract with King.
"King cannot set aside this purse bid because he has an exclusive contract with Buster Douglas, any more than I can because I have an exclusive contract with Evander Holyfield," Duva said.