The promotional organization Top Rank won the tender to organize this fight, offering $2.1 million. The Briton, who earns $571,000, is the official contender for the World Boxing Council belt. Beterbiev, whose fee will be $1.33 million, in addition to the WBC belt, also holds the IBF and WBO titles. 10% of the stake ($211,000) was reserved by the WBC as a bonus for the winner.
Smith, 33, a former world super middleweight champion, last fought in August. In his last professional performance, Beterbiev won ahead of schedule against Anthony Yarde.