UPDATED 1.57pm: Auckland's Vector Arena has been confirmed as the venue for Joseph Parker's world heavyweight title fight against Andy Ruiz Jr.

Duco Events CEO Martin Snedden said this is an historic moment for New Zealand sport - as the first time a world heavyweight championship fight will take place in Auckland.

"It could even be more historic on the night, if Joseph can go on and win that title, and become the first ever New Zealander to hold a World Heavyweight title."

On Friday, Auckland council's events arm ATEED withdrew its support for the event.

Mr Snedden said the fight will cost over $4 million but says they've secured sponsorship from Burger King, TAB, Sky TV and Gallagher.

He's picking the fight will be shown at prime time on Saturday night in Australia and on Saturday morning in the UK.

He said it'll also be going into the home of Joseph Parker's family in Samoa, which will be a proud moment for that nation.