Klitschko was to defend his WBO and IBF belts in Frankfurt, Germany, on Sept. 11; however Povetkin's manager told Russia's RIA Novosti news agency Friday that the two camps could not come to an agreement on the terms of the bout.
The major sticking point, the report said, was insurance.
RIA Novosti said a fight between Russia's Povetkin and the Ukrainian-born champion could still be scheduled before the end of the year. The two had been scheduled to fight in 2008, but the bout was scrubbed when Povetkin hurt his ankle.
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