The World Boxing Organization officially stripped Floyd Mayweather Jr. of his welterweight title on Monday, fulfilling an ultimatum which cited the pound-for-pound champ for failing to pay a $200,000 sanctioning fee for his May 2 victory over Manny Pacquiao.

Pacquiao had held the WBO belt since his rematch victory over Tim Bradley last April, and Mayweather at first said he wouldn’t accept it. He then changed his mind, so the WBO gave him until this past Friday to pay the fee.

Mayweather publicly stated after the Pacquiao win that he would be giving up all his titles so that others could fight for them but so far that hasn’t happened so, in the absence of the 200 grand, the WBO referred the case to its championship committee and made the call to pull the belt.

Mayweather still holds the RING, WBC and WBA titles in both the welterweight and junior middleweight divisions.

With the WBO title now gone from Mayweather’s waist, Tim Bradley, who became the WBO interim titleholder with his unanimous-decision win over Jessie Vargas on June 27, will likely assume full titleholder status.

UPDATE: WBO President Paco Valcarcel replied via Twitter that Bradley will become the official titleholder “once Mayweather’s appeal period of 14 days comes to an end.”