Lewis set to fight Tyson in Memphis on June 8

The controversial phoney war that has dominated boxing this year appeared to be finally coming to an end on Monday with world champion Lennox Lewis looking set to fight Mike Tyson on June 8 in Memphis, Tennessee.

Both fighters' camps had been given a deadline of Monday to sign contracts for the world heavyweight title bout billed as the "fight of the century".

After Tyson's brawling antics at a news conference in January effectively scuppered plans for an April clash, weeks of talks and financial stalemates threatened the fight altogether.

But British bookmakers started the betting on the outcome of the eagerly-awaited contest on Monday night, immediately installing Briton Lewis as the 4-9 favourite and Tyson, the American, as a 13-8 underdog.

Media reports say that Lewis, who will defend his IBF and WBC world titles, and Tyson, the former world heavyweight champion, could earn around $17.5 million each, with the fight itself set to become the richest ever.

Reports also claim that the contest was revived when television network Showtime guaranteed the $12.5 million site fee, which will enable the pair to step into a ring at Memphis' 20,000-seater Pyramid Arena.

Lewis had been warned that if a match with Tyson was not made by Monday, he would be forced to face the IBF's number one challenger Chris Byrd -- or relinquish his crown.

The Lewis-Tyson fight was originally scheduled for April 6 in Las Vegas.

STUMBLING BLOCK

But after Tyson and Lewis brawled at a New York news conference on January 22, Lewis claimed that Tyson had bitten his leg and the Nevada State Athletic Commission refused to grant Tyson a licence.

From that point, the search for a venue for the fight was the main stumbling block, with Denmark, the Bahamas, Romania and Korea among the contenders.

Washington DC also came forward and granted Tyson a licence before Memphis threw its hat into the ring.

After their impromptu brawl in front of reporters, reports claimed that Lewis, 36, made a request for financial compensation should Tyson commit a foul when they finally get in the ring.

Tyson's camp rejected the idea earlier this month -- but bookmakers on Monday also started taking bets on a Tyson disqualification and trimmed the odds against that happening from 6-1 to 4-1.

The 35-year-old was banned for a year after biting a chunk out of Evander Holyfield's ear in their world title bout in Las Vegas in 1997.

Yet Tyson's name still commands respect in boxing circles, and Frank Warren, his former promoter, is convince he can overcome the odds to beat Lewis and regain the world crown.

"Lewis is wary of Mike Tyson," Warren told BBC Radio on Monday.

"He said he wasn't going to fight (Tyson) until he got some psychiatric help...but I understand the contracts are now signed and the fight will go ahead -- and I think Tyson will win."