Both Harrison (left) and Skelton would be heavy underdogs
British duo Audley Harrison and Matt Skelton are being lined up to challenge WBC heavyweight champion Sam Peter at London's O2 Arena on 12 July.
It would be a remarkable turnaround for Harrison, 36, who looked down and out after being knocked out by Reading's Michael Sprott last February.
Bedford's Skelton, 41, lost to WBA champion Ruslan Chagaev in January.
"I've agreed terms with Don King. In the opposite corner will be Matt or Audley," said promoter Frank Warren.
"I will make an announcement on Monday. Ironically, Harrison beat Peter in the amateurs and was considered the better talent when they went pro. Watch this space."
London's Harrison returned to action on the Joe Calzaghe-Bernard Hopkins undercard in Las Vegas in April.
He stopped journeyman Jason Barnett in five rounds, but did nothing to suggest he could be fighting for a world title any time soon, despite his public utterances.
Skelton, who has lost two of his 23 professional fights, was due to face Sinan Samil Sam for the European heavyweight crown on 7 July, but that bout was recently cancelled.
The 27-year-old Peter, nicknamed the 'Nigerian Nightmare', has 30 wins and 23 knockouts from 31 fights.
He defeated Russia's Oleg Maskaev in March to claim the WBC belt. His one defeat came against current IBF and WBO title-holder Wladimir Klitschko in 2005.
Peter is due one voluntary defence before facing Vitali Klitschko, who is returning to boxing after surgery and subsequent rehabilitation after a knee injury.