Floyd Mayweather has been stripped of the World Boxing Organisation (WBO) welterweight belt won from Manny Pacquiao on May 2 in Las Vegas.
The 38-year-old failed to pay the WBO a $200,000 fee to administer the fight by last Friday deadline.
WBO rules require boxers to pay 3 percent of their purse to fight for a world title which earned the American a reported $220 million.
The rules also prohibit WBO champions to hold any belts in any other weight divisions. However, Mayweather is currently the WBC and WBA champion at junior middleweight (154lb), as well as at welterweight (147lb).
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Mayweather had been expected to relinquish the title by now, saying he planned to do so following his points victory over Pacquiao.
Fellow American Timothy Bradley will now become the full belt holder.
“The WBO World Championship Committee is allowed no other alternative but to cease to recognize Mr Floyd Mayweather Jr as the WBO welterweight champion of the world and vacate his title,” said a statement on wboboxing.com.
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Mayweather has until July 20 to appeal against the decision.
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