Price, who suffered surprise back-to-back defeats to American Tony Thompson, has fallen from grace after being tipped as a possible world champion, with his manager Frank Maloney retiring only last week.
But the Liverpudlian, who was previously coached by Franny Smith, has turned to David Haye’s trainer in a bid to salvage his career.
“It's a fresh start,” Price, 30, said. “I can leave behind what has happened but know that I've learnt from it. I've got the passion back now and am looking forward to getting in shape and putting a few things right.
“To begin with I contacted a handful of world-class trainers and asked Adam if I could have a chat and perhaps get some advice. When I first turned pro I was signed by Hayemaker and only left because of the television situation at the time.
“Adam pointed me in the right direction after that – and advised me to go with Frank Maloney – and I've always valued his opinion. So, after a brief chat, I brought up the idea of him possibly training me and we decided to have a meeting.”
Price explained that it was a tentative arrangement at first, but that the pair worked well together and have decided to formalise their relationship.
“I assumed he wanted to see what kind of frame of mind I was in. We did a few sessions together just to see how it would work, and he then agreed to train me.
“I was made up about that because I know Adam is very selective when it comes to choosing fighters to work with.
“I've got a good feeling about this move, and truly believe Adam is the man to bring out my true potential.”
Booth said the challenge of grooming another potential British heavyweight contender helped him make up his mind.
“I've always seen massive potential in David and have always been interested in working with him on a full-time basis,” said Booth.
“In addition to being a talented fighter, he's also a very nice guy and someone who is good for the gym and good for me. I like his personality and I like what he stands for.
“But he's also much more than a nice guy. He's a big heavyweight, standing at six-foot-eight, and he punches harder than anyone I've ever taken on the pads. David has enough power in his right hand to knock out anybody in the heavyweight division.
“Now we need to add other things to his game to enable him to land his shots and once again feel comfortable in the ring.”
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