Ajagba must box Sanchez by November 24 to earn the mandatory shot at the IBF belt.And if that fight falls through, Joshua is the most highly ranked heavyweight in the IBF ratings after Ajagba, Sanchez and Derek Chisora.
The IBF is one of the four major world titles that Ukrainian legend Oleksandr Usyk currently holds.
There is as yet no timeframe on when the Ajagba-Sanchez winner would get to challenge for the IBF belt as Usyk has only just boxed, knocking out Daniel Dubois last month, and his next mandatory defence would be for the WBO belt anyway.
New Zealand’s Joseph Parker is the mandatory challenger for the WBO title but that could be subject to delay as Usyk’s team have requested an extension for those fight negotiations due to injury.
But while Usyk recuperates, ambitious heavyweights will still want big fights.
Joshua hasn’t boxed since his defeat to Dubois last year. A natural fight for him would be one with long-time rival Tyson Fury.
But Fury has reiterated his determination to stay retired. That leaves Joshua as one of the most high-profile heavyweights still active in the sport and, with the division in flux, he will be well placed to seize opportunities.