World Boxing Organization strips Floyd Mayweather of welterweight belt

After missing a deadline to pay a $200,000 sanctioning fee, the World Boxing Organization stripped Floyd Mayweather of the welterweight world title he won after defeating Manny Pacquiao in May.

The WBO requires that boxers pay 3 percent of their purse to fight for a world title, up to a maximum of $200,000, AFP reports. Mayweather earned a reported $220 million from the fight against Pacquiao. Another WBO rule prohibits champions to hold belts in other weight divisions; Mayweather is currently the WBC and WBA champion at junior middleweight and welterweight.

In a statement, the WBO said it has received "no response" from Mayweather or his legal representatives, and is "allowed no other alternative but to cease to recognize" Mayweather as the WBO Welterweight Champion of the World. The WBO is expected to name American Timothy Bradley, who beat fellow American Jessie Vargas for the WBO interim welterweight belt on June 27, the new champion.

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