Promoters are negotiating to bring the undisputed world lightweight champion, Roy Jones Jnr, to Dubai to defend his four titles in a $20m (£14m) promotion – with Naseem Hamed on the undercard.

The American would defend his World Boxing Council, World Boxing Association, World Boxing Organization and World Boxing Federation titles against Kazakhstan's unbeaten cruiserweight International Boxing Federation champion, Vasily Jirov.

It would be the first world title boxing match to be staged in the Middle East. If the event is successful, the promoter Steve Morgan said he would stage another world title fight in January 2003.

"We are about 85 per cent sure of holding this boxing spectacular in Dubai in October," Morgan said.

Three fights on the undercard will feature the former world featherweight champion Hamed, Morgan said. In addition to the $20m purse for the Jones match, the undercard will be worth a total of $10m.

The October fights are scheduled to be held in the Dubai Airport Exhibition Hall, which can seat around 7,000. Morgan promised "a Las Vegas-style show."

Morgan called Dubai the "ideal venue", but said he would look at another Gulf Cooperation Council state to host the fights if the Dubai negotiations fall through.