Promoter and former undisputed heavyweight champion Mike Tyson's Iron Mike Productions out-bid Warriors Boxing, $260,000-to-$251,000 on Tuesday for the right to promote the rematch between IBF titleholder Argenis Mendez and Rances Barthelemy, IBF Championships Chairman Lindsay Tucker informed RingTV.com.

The bid was held at the IBF's offices in Springfield, N.J.

"They have 90 days within which to put the fight on. So that means that it's got to be done between now and July 15," said Tucker. "Mendez, the champion, gets 75 percent of the purse bid, and Barthelemy gets 25 percent of the bid."

The 27-year-old Mendezas (21-2-1, 11 knockouts), who is promoted by Tyson, will pocket $195,000 compared to $65,000 for the 27-year-old Barthelemy (19-0, 12 KOs), who is handled by Leon Margules of Warriors Boxing.

The return bout became necessary after Mendez's controversial second-round knockout loss to Barthelemy in January in Minneapolis was overturned and ruled a "no-decision" by the Minnesota Department of Labor and Industry, restoring Mendez as the IBF's junior lightweight titleholder.

Although Barthelemy had dropped Mendez once prior to the stoppage, the knockout appeared to be the result of a punch that landed after the bell ending the second round. A flattened Mendez was counted out by referee Peter Podgorski officially at the mark of 2:59.

"Once their fight was ruled a no-decision, then everything went back to the way that it was before the fight," said Tucker. "Meaning, Mendez is the champion, and Barthelemy was the mandatory challenger."