Floyd Mayweather was stripped of his welterweight world title Monday after earning more than $220 million in a long-awaited match against Manny Pacquiao on May 2, reports CNN.
Mayweather, 38, who won the belt with a unanimous points victory, lost the title after failing to meet a deadline to pay a $200,000 “sanctioning” fee to the World Boxing Organization (WBO) for the event that was dubbed the”fight of the century,” the report says.
He also failed to vacate his World Boxing Association (WBA) and World Boxing Council (WBC) titles at junior middleweight, an issue because WBO rules state a boxer can only hold titles in one weight division.
“Despite affording Mr. Mayweather Jr. the courtesy of an extension to advise us of his position within the WBO Welterweight Division and to vacate the two 154-pound world titles he holds, the WBO World Championship Committee received no response from him or his legal representatives on this matter,” the WBO said in a statement on its website.
Exactly what happened is unclear, but Mayweather said at a news conference after the Pacquiao fight that he’d consider relinquishing his WBO, WBA, and WBC welterweight belts to give “younger guys an opportunity,” CNN says.
Mayweather has 14 days to appeal the WBO’s decision. The title is expected to go to Timothy Bradley, who beat Jessie Vargas in an interim title bout last month, if the Mayweather issue is not resolved by the deadline.