Due to a technicality involving finances, Floyd Mayweather has been stripped of the welterweight championship title he recently won by defeating Manny Pacquiao.
Mayweather lost the title because he did not pay a $200,000 sanctioning fee that was required of him by the WBO World Championship Committee. According to the official rules agreed on before the fight, participants in a World Boxing championship contest must pay the fee at a within a certain time-period following the fight.
Mayweather was given an extension to pay the fee, but still failed to pay or contact the WBO according to reports. While $200,000 may seem like a lot of money, keep in mind that Mayweather earned an estimated $180 million for beating Pacquiao back in May. It’s been over two-months since the fight was concluded and Mayweather was ruled the welterweight championship.
“The WBO World Championship Committee is allowed no other alternative but to cease to recognize Mr. Floyd Mayweather, Jr. as the WBO Welterweight Champion of the World and vacate his title, for failing to comply with our WBO Regulations of World Championship Contests,” the statement reads.
It’s a tough blow to Mayweather, who is undefeated in the ring. Mayweather defeated Pacquiao in a 12-round unanimous decision back on May 2, 2015.
“It’s a complete disgrace,” Mayweather Promotions CEO Leonard Ellerbe said in a statement to ESPN. “Floyd will decide what, or if any, actions he will take. But in the meantime he’s enjoying a couple of hundred million he made from his last outing and this has zero impact on anything he does.”