Leroy Brown, Gleaner Writer
The World Boxing Association (WBA) has moved quickly in its effort to finalise arrangements for the world featherweight title fight between champion Celestino Caballero and mandatory contender, Jamaica's Nicholas Walters, by putting the fight up for purse bids.
On August 2, Walters, who was previously the No. 2 contender for the title, was named the mandatory challenger and he and Caballero were given until September 2 to come up with a voluntary agreement to fight each other. However, nothing happened.
The ball was to a large extent in the champion Caballero's court, but his promoting company - The Money Team, 'TMT' - led by multimillionaire rapper Curtis Jackson, whose stage name is 50 Cent, did not respond to overtures from the Walters camp.
Once the voluntary date passed, however, the WBA acted immediately. On September 3, they put the fight up for purse bids and informed all their registered promoters that this fight was on the table.
Under the purse bid system, any registered promoter who is interested in promoting the fight must submit a sealed bid, which will be opened by the WBA - along with all other bids - on September 13.
The minimum bid that can be submitted is US$120,000 and the final purse agreed on will be split between the champion and the challenger on a 75-25 basis.
If no qualified purse bid is received, or if the promoter who won the bid is unable to comply with the rules of the WBA, the WBA can call a second purse bid.
However, once the bid has been finalised, arrangements must be made for the fight to take place no more than 90 days and no fewer than 45 days from the date of the purse bid.