Tyson Fury and Wladimir Klitschko aren’t done with each other yet.

Less than a week after losing the heavyweight championship to the unbeaten Englishman, Klitschko announced through his Instagram account that he would be exercising a rematch clause in 2016.

“I have a pre-Christmas gift for Tyson Fury and all boxing fans around the world. I’ll be making use of my contractual option for a rematch against Fury,” said Klitschko. “So to say the fight of 2016 is in the making.”

The 39-year-old Ukrainian had his 9-year reign as heavyweight champion ended by the 27-year-old Fury (25-0, 18 knockouts) this past Saturday in Dusseldorf, Germany by unanimous decision. Fury danced around Klitschko, mocking him as he seemed unable to pull the trigger at the target in front of him.

Fury, who said at a press conference in England that he didn’t drink water in Germany after the fight over concerns that it’d been tampered with, told RingTV.com that he didn’t care whether a rematch happened in England or Germany.

“I would be more than happy to have a rematch with Wlad,” said Fury. “He’s been a great champion and he’s still a great champion and it would be my honor to give that man a rematch. Essentially I would be giving him a chance to win his money back – that type of thing.”

Klitschko was quoted by the BBC saying that he felt he had more to show of himself than he showed in the loss, which was his first time to taste defeat in 11 years.

“I was really frustrated directly after the fight, but after some short nights, I now know that I am much better than my performance on Saturday.

“I couldn’t show much full potential at any time. This is what I want to change in the rematch, and I will.”