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The long-awaited rematch between Russia's WBA heavyweight title holder Nikolai Valuev
The long-awaited rematch between Russia's WBA heavyweight title holder Nikolai Valuev with champion in recess Ruslan Chagaev of Uzbekistan may take place on May 30 in Finland's Helsinki.

The FightNews.com boxing website said Valuev's promoting company Sauerland Event won the bid for the bout on Monday in Spain's Vitoria by offering some $2.8 million.

The fight is slated for May 30, but the venue is still to be decided, with Helsinki ahead of the German cities of Nuremberg and Halle-Westfalen.

"We intend to stage the bout on May 30. We have targeted Helsinki, Finland as the location but will announce further details in the next days," the website reported quoting Sauerland Event General Manager Chris Meyer as saying.

Valuev, who has been preparing for this match in Japan's Okinawa since March, said he was glad that the repeatedly postponed bout will finally take place.

"I have been waiting for this day for two years. I will finally make amends for only loss of my career," he said.

Valuev (50-1, 34 KOs), dubbed the Russian Giant, lost his title bout to "White Tyson" Chagaev in April of 2007. They later scheduled a rematch, first for May and then July of 2008, but the match was put off due to an injury to Chagaev, who was declared champion in recess.

Valuev reclaimed his WBA belt in August 2008 after defeating two-time WBA heavyweight champion John Ruiz, and then retained his title by beating four-time champion Evander Holyfield of the United States last December.

Thirty-year-old Chagaev (25-0, 17KOs) returned to professional boxing last month to face Carl Davis Drumond (26-1, 20 KOs) in Mecklenburg, Germany. He defeated the previously unbeaten Puerto-Rican in a six round technical decision.


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