Welterweight world titleholders Jessie Vargas and Kell Brook have agreed to terms for a summer unification fight in Brook's hometown of Sheffield, England, their promoters told ESPN.com.
"We have agreed terms so to speak and are now progressing to contract," said Matchroom Boxing promoter Eddie Hearn, who promotes Brook. "Obviously not done until it's signed, but things are looking very good."
The sides have been nearing a deal for the past few weeks, and it was agreed to when Vargas and Top Rank, his promoter, reached their deal with each other.
"I'm looking forward to giving my fans a great fight and bringing two titles back home," Vargas told ESPN.com on Friday. "At the same time, I am hoping to make new fans in the U.K. My team and I will start preparing to KO Brook."
Hearn said the fight will take place Aug. 20, Aug. 27 or Sept. 3 at Bramall Lane, an outdoor soccer stadium in Sheffield. Hearn said he is waiting on confirmation from stadium officials on which date they prefer.
"Everybody is on board," Top Rank promoter Bob Arum said. "We got the money straightened out and then a lot of other details. Now we are waiting to see the paperwork from Eddie. This is a great opportunity for Jessie Vargas. He'll make his biggest purse [$1.7 million] by a lot. I'm really happy we could deliver this kind of fight for the kid. He can win this fight."
Arum said he expects the paperwork to be finalized early next week.
While the fight will headline a Sky Box Office pay-per-view card in the United Kingdom, Arum owns the American television rights and said he is in talks with HBO to televise the bout. He said the network is "very interested."
Vargas (27-1, 10 KOs), 27, of Las Vegas, a former junior welterweight titlist, won a vacant welterweight world title on HBO on March 5 in Washington, D.C., in the best performance of his career, a ninth-round knockout of then-undefeated 2008 U.S. Olympian Sadam Ali.
Brook (36-0, 25 KOs), 29, won his piece of the 147-pound crown from Shawn Porter in August 2014 in Carson, California, and he has made three defenses. However, he has faced relatively soft opposition and has been seeking a major fight. Vargas would be his best opponent since facing Porter.