Anthony Joshua and Tyson Fury have reached an agreement in principle to set up what promises to be two of the greatest spectacles in British heavyweight history.

The pair hold all four of the major world titles in boxing's blue riband division and speculation about a contest has been steadily building, reaching fever pitch this week following announcements from the camps of both fighters.

Here, the PA news agency looks at the latest developments and whether they bring a much-anticipated all-British bout closer to fruition.

What has happened this week?

Joshua and Fury's handlers have been in discussions for weeks concerning a prospective blockbuster showdown between the pair. And Joshua's promoter Eddie Hearn was comfortable enough to tell Sky Sports on Wednesday: "Joshua and Fury have agreed to a two-fight deal, in essence." One of Fury's promoters, Frank Warren, said later on: "Things are going in the right direction and we couldn't be more happy that a potential mega fight is in reach."

Any word from Joshua or Fury?

As Hearn said: "The most difficult part of any deal is the financial element." It seems Joshua, the WBA, IBF and WBO champion, and Fury, who holds the WBC title and the prestigious Ring Magazine belt, are on the same page in that respect. It is understood there would be an even 50-50 split the first time around while the winner would pocket 60 per cent of revenue in any return fight, extravaganzas which Hearn predicts will never be topped in this generation, adding: "It's the biggest fight ever in British boxing."