Floyd Maywether was stripped of the world title in the welterweight division that he won after beating Filipino Manny Pacquio. According to the World Boxing Organisation, Maywether who is unbeaten in any boxing championship match failed to comply with the rules requiring him to pay $200,000 sanctioning fee from the fight with Pacquiao. It is surprising that Mayweather did not pay the stipulated amount considering that he is one of the best paid athletes in the world. More surprising is that a boxer would fail to pay $200, 000 from a fight that earned him more than $200 million.
As reported by New York Times, professional boxers are required to pay the sanctioning fee on the night of the match. However, Mayweather was exempted from this stipulation as he was not sure which world title he wanted to retain.
The loss of the title by Mayweather is however not considered much of a big deal as the professional boxer is seen as being far much bigger than just any other title. In addition to this, there was relatively no loss on World Boxing Organization’s part as the organization is not struggling financially. Manny Pacquiao paid his $200,000 and had he won the fight, he would have retained his title. Unfortunately, he didn’t and might have to contest for the same title he held in future.