Here’s why Mayweather may give up all his belts
Now that Manny Pacquiao has been boringly dispatched, Floyd Mayweather can set his sights on the end of his boxing career. He has one more fight remaining under his six-bout contract with Showtime, and he’s given every indication that his next fight — perhaps in September — will be his last.
“My love and my passion for boxing is not the same, like it once was,” he said after Saturday’s decision over Pacquiao, per The Post’s Rick Maese, “But this is my job. I have to go out there and be at my best doing my job.”
But that last bout is unlikely to be a title fight, as Mayweather announced early Sunday morning that he planned on relinquishing his belts, perhaps as early as Monday. Mayweather is the world welterweight champion in WBC, WBA, WBO and Ring Magazine and the super welterweight title-holder in the WBC and WBA. His camp says Mayweather merely is being gracious with this somewhat unexpected move.
“It’s about giving other guys opportunities,” Leonard Ellerbe, CEO of Mayweather Promotions, told Maese. “He’s accomplished everything in the sport. What more can he accomplish?”
But, as is usually the case when the man nicknamed “Money” is involved, there are financial reasons, as well. By abandoning the belts, Mayweather can avoid paying the sanctioning fees that come with them. It’s unclear exactly how much money is involved, but the Independent calls it a “large sum.”
Mayweather, 38, has balked at paying sanctioning fees in the past. In 2010, he mandated that his bout with Shane Mosley not be for Mosley’s WBA welterweight title, merely to avoid paying a sanctioning fee estimated to be around $675,000, or 3 percent of his $22.5 million base purse. Now imagine paying sanctioning fees for all of the belts Mayweather currently owns, and his reason for relinquishing them becomes much clearer.