Carl Froch and George Groves have signed for their long-awaited rematch, with the date set for May 31.

After months of deliberation, the IBF announced last night that purse bids had been called off and the pair have finally agreed terms on a second showdown.

The venue is yet to be announced, though it is expected to be between Old Trafford and the Emirates Stadium. The City Ground, based in Froch’s home town of Nottingham, is thought to be another option.

Wembley Stadium was a preferred venue but ruled out due to England football team playing Peru in a friendly the day before.

Froch won a controversial first bout back in November when referee Howard Foster seemed to stop the fight prematurely in the ninth round, with Groves backed up and under fire on the ropes. 25-year-old Groves earlier had the champion on the floor in round one, only the second time Froch had been dropped in a fight.

Groves complained to the IBF, who ordered an immediate rematch, and also appealed to the British Boxing Board of Control to change the result to a No Contest, though no decision has yet been reached.

Negotiations also stalled when the IBF called a rematch, which automatically states Froch is due 85% of the fight fee, leaving Groves with 15%. The Londoner, having already turned down 20%, complained to the governing body but it fell on deaf ears. Promoter Eddie Hearn confirmed this would only come into effect if purse bids were called, a situation which has now been avoided.

It is expected to be the highest grossing UK boxing match of all time and the biggest grudge match on these shores since Chris Eubank and Nigel Benn squared off at Old Trafford in 1983, with over 43,000 in attendance.

The event will be shown on pay-per-view channel Sky Box Office.

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