The WBO announced yesterday that Floyd Mayweather was stripped of the welterweight world title belt after refusing to pay sanctioning fee. Floyd Mayweather refused to pay the $200k sanctioning fee and as a result will no longer be recognized as the welterweight world champion.
Floyd won the title after defeating Manny Pacquiao on May 2 in the highest grossing pay-per-view match of all times. Floyd earned more than $220 million from the fight based on total gross, pay-per-view subscriptions, closed circuit revenue, live gate, foreign television sales and sponsorships.
Floyd must also vacate two junior middleweight titles.
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