Tyson Fury has decided to relinquish his British and Commonwealth heavyweight titles.

Fury's decision has all but ended hopes of an all-British showdown with David Price.

However, 23-year-old Fury believes that the time is right to move on and pursue a shot at a world title.

"It's been an honour to have won and held both the British and Commonwealth heavyweight titles, but as I'm now currently number seven in the world it's time to move on," said Tyson.

"If Price really believed he could beat me the smart move in my opinion would have been to take the great pay day that was offered by my promoter to appear on terrestrial TV.

"I'm really excited about my future plans as I'm doing things differently and currently training like a Trojan in pursuit of becoming heavyweight champion of the world."

Fury's last fight saw him record a victory over Neven Pajkicat.