The British Boxing Board of Control (BBBofC) is to consider whether to revoke Tyson Fury's licence after the world heavyweight champion admitted to taking cocaine.

The 28-year-old pulled out of a planned rematch with Wladimir Klitschko last month after being declared "medically unfit" to compete, and on Monday announced his intent to retire from the sport before reversing his decision just hours later in a series of bizarre Twitter posts.

In an interview with Rolling Stone magazine yesterday, Fury revealed that he had done "lots of cocaine" in the last few months and is suffering from "depression".

Fury went on to admit that he did not "want to live anymore", adding: "I don't know what's going to happen to me. I don't know if I'm going to see the year out, to be honest."

Speaking to reporters, BBBofC general secretary Robert Smith confirmed that the governing body will meet on October 12 to discuss how to handle Fury.

"All of Mr Fury's recent issues will be discussed at that point, after which we'll see what we're going to do," he said. "He is licensed by us. The sanctioning bodies, the WBO, WBA - they are not governing bodies - they can strip him, declare the titles vacant, or he can vacate them. We deal with the licence, so in theory, if we were to suspend him they would have no choice but to strip him because he can't defend them, can he?

"Cocaine is against the law of the land. We can't ignore the law of the land. It's drug use and we will deal with it accordingly."

The BBBofC previously stripped Ricky Hatton of his licence in 2010 amid allegations of cocaine use.