Floyd Mayweather Had His Belt Stripped For Not Paying His Sanctioning Fee Because $200,000 Is Chump Change
CNN- Boxer Floyd Mayweather Jr. has lost his welterweight world title after failing to meet a deadline to pay a $200,000 "sanctioning" fee to the World Boxing Organization (WBO) for his "fight of the century" against Manny Pacquiao.
Mayweather, who won the belt with a unanimous points victory against the Filipino fighter in Las Vegas in May, earned at least $180 million for the fight.
The 38-year old American also failed to vacate his World Boxing Association (WBA) and World Boxing Council (WBC) titles at junior middleweight -- an issue as WBO rules state a boxer can only hold titles in one weight division.
A lot of people are going to crucify Floyd for not paying his sanctioning fee, especially when the fight in question netted him over $180 million dollars and potentially hundreds of millions more in Pay-Per-View revenue. How could a boxer with a proclivity for throwing around money not pay a relatively nominal fee and keep his belt? Well, I'm here to tell you exactly how it happens. Floyd Mayweather didn't decide not to pay his sanctioning fee, he simply forgot, and if you are being honest with yourself, you can't really blame him.
Let's put this is normal people terms. Is there a higher likelihood of you forgetting to pay your $300 speeding ticket or the $20 parking ticket you crumbled up and threw in your glove box? Do you ever forget to pay your rent? Probably not. However, you just might forget to pay that pesky little water bill on time. Everyone prioritizes their expenses. Forgetting about a $200,000 sanctioning fee is the Floyd Mayweather equivalent of forgetting that you owe your friend $5. He treats a couple hundred thousand dollars like the average person treats a handful of pennies. If it's not a large enough sum to log any room in Floyd's memory bank then it's not worth a withdrawal from his actual bank (or his duffle bag of cash he carries around). Hell, Mayweather loses $200,000 in his couch cushions every time he tries to intricately set up stacks of money for an Instagram video. You want that sanctioning fee paid on time then up that shit to 7 figures. Then it will become cool to pay it. Shit, if the fee was in the millions Floyd might fuck around and turn the act of paying it into a full length reality show. If all the belt is worth is a paltry $200K then Floyd probably doesn't even want that bullshit piece of scrap metal. Encrust that thing in 1,000 diamonds and I bet you The Money Team will be beating down the door trying to flip the bill. Until then Welterweight belts and sanctioning fees are, relatively speaking, for poor people.