Floyd “Money” Mayweather Jr. was awarded the WBO welterweight title when he defeated Manny “Pac-Man” Pacquiao on May 2, but it was announced Friday that the 38-year-old megastar will be stripped of the championship because of a lack of compliance.

ESPN.com’s Dan Rafael was the first to report that the World Boxing Organization officially decided to take back its 147-pound belt from the undefeated Mayweather.

According to Ryan O’Hara of ThaBoxingVoice.com, Mayweather declined to pay the $200,000 sanctioning fee for the title by the deadline. Also, he decided against vacating the WBA and WBC junior middleweight titles, which was necessary since boxers are not permitted to hold world championships in multiple weight classes, perChris Williams of BoxingNews24.com.

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