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David Haye and Dereck Chisora will reportedly clash at Upton Park on July 14 in a fight sanctioned by the Luxembourg Boxing Federation.
Chisora's manager Frank Warren is due to make a "major announcement" at West Ham United's ground on Tuesday when it is expected he will give details of the fight.
Neither of the British heavyweight fighters - who hit the headlines for their conduct at the press conference after Chisora's WBC heavyweight title challenge against Vitali Klitschko in Munich on February 18 - hold a current British Boxing Board of Control licence.
Chisora's licence was withdrawn in March following his involvement in a number of controversial incidents before and after the Olympiahalle fight.
Haye, meanwhile, relinquished his licence when he officially retired last October - three months after losing his WBA title to Wladimir Klitschko in Hamburg.
However, the grudge match looks set to go ahead after seemingly having been given the green light by the Luxembourg authorities.
Chisora's manager Frank Warren told The Sun: "Before anyone starts screaming, let me point out the Luxembourg boxing association was formed in 1922 - seven years before the British Board.
"They have given their approval for the bout and it will go on at Upton Park under their jurisdiction.
"As fully fledged members of the European Boxing Union, that is what they are entitled to do.
"I never said Dereck shouldn't be punished, but the board here withdrew his licence - they did not ban him so he can apply to any boxing board."