Champ gives up belt
Caballero gave up his featherweight title yesterday, the penultimate day by which he had to sign the contract for his fight against Walters who is the WBA’s number 1 challenger.
Caballero decided that he would rather relinquish the title than fight Walters for the mandated purse of US$90,000 that was offered to him by Canelo Promotions of Mexico.Canelo won the purse bid for the fight which was for US$120,000, from which amount Caballero was to receive 75 per cent, which is US$90,000 and Walters 25 per cent, which is US$30,000.
The WBA rules required him to sign and return the contract to the promoters by today, since they in turn had to deliver it to the WBA by October 10. Caballero said he was giving up the title rather than fight for that amount. It is believed that he will now move up to the super featherweight division and get more lucrative fights.
This move will suit Walters, who will go up against the next highest rated available contender selected by the WBA. This will be done in the next few days.
The purse money will quite likely be shared 50-50, so instead of US$30,000, Walters would get US$60,000.