UPDATED 12.24PM: Boxing promoters Duco Events have withdrawn an application for government funding to secure heavyweight fighter Joseph Parker a title fight at home. 

Parker is expected to face California-based Mexican fighter Andy Ruiz Jr for the WBO title, and it was hoped the bout might take place in New Zealand. 

Duco director Dean Lonergan told a press conference this morning that their funding application had turned politically divisive, and they'll now re-evaluate the money available to them.

"By ruling out any government involvement, it cuts down a stream of revenue for us," Lonergan said.

"There's probably a seventy to eighty percent chance this is going overseas. We're moving closer to eighty percent [now]."

Auckland's Eden Park, Mt Smart Stadium and Vector Arena had been slated as possible venues in New Zealand.

Lonergan said they have until November 5 to finalise a venue in New Zealand. The fight is set to take place on December 10.

"There are various options on the table and we judge each one on merit." said Duco founder David Higgins.

Higgins said if they were given government funding via Major Events funding they would still have to charge Sky Television viewers to watch the event and believed that would cause backlash and make Duco 'pariahs' in New Zealand.