Former champion Arthur Abraham has reached an agreement with his promoter Sauerland Event, and plans to fight on August 24 against Willbeforce Shihepo in Scherwin, Germany, BoxingScene.com reports.

As it was reported a few weeks ago, Abraham was unhappy with the purse being offered and the two-division beltholder was holding out for more money. He even went as far as to threaten the possibility of retirement.

But the two sides were able to reach a common ground. On Monday, July 1, Abraham signed a new promotional agreement with Sauerland until 2015. In his last fight, Abraham was stopped in four rounds by Robert Stieglitz in March.

"Yes, the agreement was signed on Monday. We agreed. I will box on the 24th of August in Schwerin. I would like to especially thank my lawyer, Mr. Christopher Schickardt. I look forward to continuing to work with my trainer and Sauerland Event until at least 2015," Abraham told German sources.