Metro Manila (CNN Philippines) — The World Boxing Organization (WBO) stripped Floyd Mayweather, Jr. of the world welterweight title that he won against Manny Pacquiao on May 2 in Las Vegas.
The WBO issued a resolution on Tuesday PHT (July 7) on their website, listing down the reasons why such measures were enacted against Mayweather.
The resolution read:
NOW, THEREFORE, BE IT RESOLVED by the WBO World Championship Committee according to our Regulations that:
In the present case, Mr. Mayweather, Jr. failed to pay the $200,000.000 fee required of him as a participant of a WBO World Championship Contest.
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 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.
This is a final decision of the WBO World Championship Committee. The affected WBO Participant may appeal to the Complaint and Grievance Committee pursuant to WBO World Championship Section 34, which per Rule 3(e) of the WBO Appeals Regulation, must be submitted in writing to the WBO President within fourteen (14) days of the date of this decision as its sole and exclusive remedy.
Dated in San Juan, Puerto Rico on this 6th day of July, 2015.
Mayweather claimed the WBO title against Pacqauio in the so-called “Fight of the Century,” a bout that crushed previous financial records for a boxing event.
In an interview with ESPN, Mayweather Promotions CEO Leonard Ellerbe seemed displeased with the ruling.
“It’s a complete disgrace,” said Ellerbe. “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.”
