Joseph Parker will fight for the WBO heavyweight title in Auckland.

Kiwi boxer Joseph Parker has got his dream bout, a home fight for the WBO heavyweight title.

Parker's fight against Mexican Andy Ruiz was confirmed for Auckland's Vector Arena on December 10 at a Duco Events announcement on Tuesday morning.

Duco chief executive Martin Snedden revealed at the announcement more money was needed to meet the more than $4-million price tag, but there was enough in the pot to secure the home title fight for Parker.

Fairfax NZ Signage at the announcement Joseph Parker will fight Andy Ruiz in Auckland for the WBO heavyweight title.

"We haven't secured all the sponsorship we need, but we have got to the threshold to say we have enough to take this risk and go for the home advantage," Snedden said.

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GETTY IMAGES Andy Ruiz will fight Joseph Parker for the WBO heavyweight title.

The announcement ends a prolonged period of negotiation to find the funds to host the historic fight after Duco was given first rights when it was sanctioned by the WBO on October 20.

The belt was vacated by troubled Brit Tyson Fury and gives the opportunity for the first New Zealand-born fighter, or the first Mexican, to win a genuine world heavyweight title.

ROCKY ROAD TO VECTOR

Duco overcame several stumbling blocks to make the finances work – withdrawing an application for government funds because of a political and public backlash, and then losing the backing of Auckland City's promotional arm, Ateed, last Thursday, just when the deal appeared to be done.

Andrew Cornaga / Photosport.nz Duco Events directors Dean Lonergan and David Higgins.

In the end the opportunity to give Parker home advantage proved irresistible with a reworked financial model set up over the last weekend.

At the announcement on Tuesday morning, Snedden said it's been a "pretty volatile and rocky past few weeks".

"We've reached a stage where we can confirm it. There's a lot to do over the next 32 days, but we are confident we can get it done," he said.



This was a "huge sporting event" and he expected the country to unite behind it "in a similar fashion to the 2011 Rugby World Cup and the 2015 Cricket World Cup".



"We are only able to host the event in Auckland because of the tremendous support from our sponsors who grasp just how big an occasion this will be for all New Zealanders," Snedden said.

NZN VIDEO Mark Stafford from the TAB explains why the odds are what they are for the Parker v Ruiz title fight.

Joseph Parker's fight with Carlos Takam in May this year cost $2.2-million and Snedden said the WBO title fight would cost almost double that.

"It's been a big ask. We've had to start over with new contracts with our major sponsors.

"We thought we had a case for Auckland funding. But we have moved on from the funding debate. We understand that," Snedden said.

Duco Events Joseph Parker will fight Andy Ruiz in Auckland on December 10 for the WBO heavyweight boxing title.

THE SEARCH FOR SPONSORSHIP

Snedden said Duco boss David Higgins was overseas looking for TV deals and co-owner Dean Lonergan was heading to Africa to look to secure deals there.

Among the secured sponsors were Burger King and Sky, but a new backer was rural business solutions company Gallagher Group.

Snedden said the Gallagher agreement was crucial, saying they came on board last Friday morning, just hours after Ateed had withdrawn their funding.

"We have a long history of providing support to the community across sport, arts, health and education," Gallagher chairman Sir William Gallagher said.

"Contributing to this event means as many Kiwis as possible now have a fantastic opportunity to feel part of Joe's quest for the world title, and it's happening right here in New Zealand."

The TAB believed betting for this event would be the biggest in boxing for the NZ bookmaker since David Tua's world title fight against Lennox Lewis in 2000.

"Our customers love boxing, and there are some good odds already available for this bout," chief bookmaker Mark Stafford said.

TAB odds on Tuesday had Parker at $1.33 and Ruiz at $3.30. Tua's fight against Lewis took in $2.2m.

BIG MONEY FUTURE

If Parker can beat Ruiz, the big money lies in defences and unification bouts in a division split wide open by the sidelining of Fury.

Parker was adamant he wanted to fight for the title at home. It was one of the big attractions of giving up his mandatory rights to challenge IBF champion Anthony Joshua and go down the vacant WBO route.

Ruiz's promoter Bob Arum was ready to take control of the fight and stage it in the United States if Duco couldn't stitch the Auckland deal together.

Duco now face the big task of selling the fight to the public with just 33 days till fight night.

They will be relying on major corporate support, a sellout at the fight venue and cashing in on their TV rights.

They have predicted a possible global audience reaching more than 500-million households across 100 countries, though Arum will take the lucrative rights to the United States and Mexico.

Parker and his trainer Kevin Barry have been in camp in Las Vegas preparing for a December 10 clash while Ruiz and his trainer Abel Sanchez are also deep into their preparations at altitude at Big Bear in California.