Fury sent out a challenge to Joshua earlier this month and talks have rumbled on between the two teams in recent weeks.
The tantalising all-British world heavyweight title fight finally looked set to be agreed at one stage. But Fury facing Mahmoud Charr now appears more likely to happen next (how underwhelming).
"Fury isn't fighting AJ for the belt that he can't get hold of but he simply knows that AJ is the biggest draw in heavyweight boxing.
"Should he have wanted a belt, it's Oleksandr Usyk he should have called out. So the AJ fight, it's clear to me and everyone else, it's for show and money, and a fight that Fury thinks he can win handily.
"And because of AJ's recent defeats, Fury seems confident that this will be an easy fight."
Bellew went onto explain why Joshua would have a "real chance" of beating Fury.
"As far as I'm convinced, AJ is fitter, stronger and more determined than ever.
"He's also not responding to all the talk on social media etc - he's just getting on with it, which is a strength in itself. It's all about blocking out the noise.
"Fury will no doubt be the favourite on the night but I wouldn't write off AJ. We've seen what he's achieved before and it could be done again.
"He knows that Fury will be using his weight advantage and when you get in the ring with him, you soon realise this guy can really move.
"He's got incredible footwork and he moves so well for a big man, which makes him a nightmare.
"So unless you figure him out quickly, you'll lose. And this is why I think this will be a great fight because this may just work in AJ's favour.
"He may not be a very experienced boxer - but he's a smart boxer and he understands fighting better than people sometimes get him credit for.
"It's all up for grabs and I think it'll be a tough fight. Furthermore, the media circus around it will be something else but this is where AJ has to stay focused and not allow press and 'chat' get to him - if he can do this, he'll have a real chance."