Tyson Fury can either take a risk in his first fight back since ending his latest retirement, or go for a safer, harder-to-sell option.
Fury (34-2-1, 24 KOs), 37, began 2026 by announcing he will return to the ring to end his latest retirement for his first fight since a points loss to Oleksandr Usyk for the undisputed world heavyweight title in December 2024.
Despite it being over a year since he last boxed, it would be disappointing and surprising to see Fury in a mismatch of a warm-up vs. a little-known opponent, which would also provide little benefit ahead of a bigger fight in 2026.
Fury's next opponent is likely to be a contender, or even a world title holder, rather than a lowly-ranked opponent.
With big-hitting Daniel Dubois probably too dangerous for Fury's return, who are the likely contenders to share a ring with him next in 2026?
Fabio Wardley
20-0-1, 19 KOs
Age: 31
This is the boldest and quickest route for Fury to become a three-time world heavyweight champion. It is also an easy fight to make -- Wardley is promoted by Queensberry Promotions just like Fury.
Facing Wardley, an English rival, would attract a big audience to a UK stadium in April and would give Fury the chance to win the WBO world title, which Wardley gained after he was promoted from interim champion when Usyk decided to give up the belt in November.
Wardley, who only had four white collar boxing bouts before turning professional, has had a remarkable journey to world champion after he registered impressive stoppage wins over Justis Huni and Joseph Parker last year.
But Fury might trust that his experience, ring IQ and jab can secure victory vs. Wardley in April or May without a warm-up bout.
Agit Kabayel
26-0, 18 KOs
Age: 33
Kabayel is in great form after stopping his last five opponents and on Saturday defends his WBC interim title vs. Damian Knyba in his native Germany.
Kabayel has been hailed as the biggest thing in German boxing since the Klitschko brothers, the Ukrainian world heavyweight champions who were based there.
If he wins this weekend, as he is expected to do, he puts himself in the frame for a shot at world heavyweight No. 1 Usyk... or perhaps Fury in April or May, to decide who goes forward to fight the Ukrainian.
Kabayel, in his current form, is perhaps the most dangerous option on this list, after he knocked out Zhilei Zhang in February last year, Frank Sanchez in May 2024 and Arslanbek Makhmudov two years ago.
If Fury pops up at ringside in Oberhausen this Saturday, you have your answer as to who the Englishman fights next.
Filip Hrgovic
19-1, 14 KOs
Age: 33
The Croatian contender is an attractive option for Fury. He has not looked devastating for three or four years now, and tends to cut. However, last year he registered points wins over David Adeleye and Joe Joyce to revive his career following a damaging, Round 8 stoppage loss to Dubois on gruesome cuts in June 2024.
His win over Joyce was not emphatic, against an opponent who suffered a fourth defeat in five fights. Hrgovic then had to contend with a bad cut and was rocked in Round 8 before winning a unanimous decision vs. Adeleye, who Wardley stopped in October 2023. Hrgovic unloaded an impressive volume of punches vs. Adeleye, so if Fury does choose to fight him next his conditioning needs to be ready to answer the Croatian's pressure-fighting.
Hrgovic is a smart boxer but does not present much of a danger in terms of his punching power. That lack of threat and his lofty ranking -- he is ranked No. 2 with the WBO, and No. 5 with the WBC and WBA -- could see Hrgovic on the short, shortlist for Fury's next opponent.
Martin Bakole
21-2-1, 16 KOs
Age: 34
Bakole, from Congo, has previously sparred Fury and on his last two performances he is probably just what Fury wants from his next opponent: someone who is ranked high enough but with low risk.
Bakole was clinically dispatched inside two rounds by Joseph Parker in February last year when he was too heavy, although he did step in as a very late notice substitute opponent.
Bakole, who is ranked in the top 10 by three world governing bodies, seemed lucky to get a draw vs. Efe Ajagba in May, when he showed a lack of movement which Fury's jab and footwork would capitalise on.
Bakole KO'd Jared Anderson in August 2024, but his recent form suggests he could be a good comeback opponent for Fury. Nigerian Ajagba would be a trickier opponent for Fury.
Lenier Pero
13-0, 8 KOs
Age: 33
If Fury's ultimate goal is to land a trilogy fight with Usyk, following two points losses to the Ukrainian, then Pero is a good warm-up. The Miami-based Cuban is a southpaw like Usyk (24-0, 15 KOs), 38, who looked devastating in a Round 5 KO win over Dubois in July last year following unanimous and split points decisions over Fury (December and May in 2024 respectively).
Pero has operated outside the elite level yet finds himself ranked No. 2 with the WBA after two 10-round points wins last year. He lost to Hrgovic at the 2016 Olympics, before turning professional, and has a lower profile than other contenders but he makes sense if Usyk is the goal for Fury this year.
Other leading southpaws include 42-year-old Zhilei Zhang (27-3-1, 22 KOs), who has not fought since getting KO'd by Kabayel last February and could be a hard-sell, and Bakhodir Jalolov (16-0, 14 KOs), who at six-foot-seven and a double Olympic gold medallist would be a considerable risk.