Heavyweight champion Wladimir Klitschko will face mandatory challenger Alexander Povetkin in September in Germany after K2 Promotions, the company owned by Klitschko and his brother, fellow heavyweight titleholder Vitali Klitschko, won a purse bid Tuesday at the IBF headquarters in East Orange, N.J. K2 Promotions bid $8,313,000 to easily beat the only other bidder, Povetkin promoter Sauerland Event, which offered $4,250,001. With the split going 75 percent for the champion and 25 percent for the challenger under IBF rules, Klitschko is entitled to $6,234,750 and Povetkin $2,078,250. http://sports.espn.go.com/sports/boxing/news/story?id=5339752
