Hearn said Fury-Joshua for all four world heavyweight titles would be the biggest fight in British boxing history and set pay-per-view records in the United Kingdom.
Hearn told Yahoo Sports on Wednesday that though financial terms with the fighters are agreed upon, there are other issues to resolve, including lining up a venue and a broadcast deal. Two-fight deal, Tyson Fury versus Anthony Joshua next year.
Fury, the reigning WBC and lineal heavyweight champion, defeated Deontay Wilder in February.
"We have the Dillian Whyte mandatory [title challenge for Joshua] which is due before this fight", Hearn added.
"We've been talking to (Fury's management team) MTK, giving them the assurances from Joshua's side that all the details on the structure of the deal is approved from our side".
"The first fight could happen next summer", Hearn said, although he acknowledged that "there is still a lot to overcome".
The road to Anthony Joshua vs Tyson Fury seemed nonexistent roughly one year ago.
A face-off between two heavyweight British rulers for the undisputed title will undoubtedly be the biggest fight ever involving two Britons. "The good news for fight fans is that we have agreed to do the two fights and we can now go and dot the I's and cross the T's".
'The main positive news is that Joshua and Fury have agreed to a two-fight deal, in essence.
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Arum, the chief executive of the Top Rank promotion company, said they are aiming for the Wilder fight to happen in November or December.
"Things are going in the right direction and we couldn't be more happy that a potential mega fight is in reach".
Heavyweight boxing could have a unified champion for the first time in more than two decades.
"But the good news is for the part of the deal which is notoriously more hard, the financial elements, this is basically in principal agreed to".
Both sides are now hoping that the first fight is staged in the summer of 2021, but no venue or location has been determined yet.
Wilder and Fury drew their first fight in Los Angeles in 2018, which ultimately ended in a controversial split draw.
Fury is contracted to fight the American, from whom he won the WBC title in February.
The British born fighter has been waiting for years for his crack at another world title. He got this done, literally over the line", he continued, "Two fight deal. "Both boys agree. The structure of the agreement has been presented and agreed by both parties". They have both fought in Saudi Arabia - Tyson did WWE there, and AJ had his last fight there [December, 2019].