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WBA orders purse bid for GGG-Jacobs after deadlines passes

07
Dec

It’s not approaching Mayweather-Pacquiao levels of longevity in terms of negotiations but it’s beginning to feel like it.

As expected, the sides for Gennady Golovkin and mandatory challenger Danny Jacobs were unable to come to terms on a deal on Wednesday to stage a middleweight championship bout this spring, passing a deadline and forcing the WBA to order a purse bid.

The bidding is scheduled for Dec. 19 at 11 a.m. at the WBA offices in Panama City, Panama and will be conducted by WBA Championship Committee Vice Chairman Aurelio Fiengo. The promoter with the winning bid will gain control of the particulars of the bout, such as the venue and broadcaster.

The camps still have until Dec. 19 to make a deal. However, if the last three months have taught industry watchers anything, it’s that a purse bid seems the likeliest of scenarios. By virtue of his position as the champion, Golovkin, who holds the WBA/WBC/IBF titles, will get 75 percent of the winning tender, which is expected to be in the millions, while Jacobs gets 25 percent. The auction will be open to all promoters registered with the WBA; the minimum proposal is $400,000.

The WBA informed both camps last Wednesday they had seven days to make a deal. As the 5 p.m. ET cutoff time was eclipsed on Wednesday, WBA officials began preparing the paperwork to order the purse bid. The directive comes three months after the WBA formally ordered the fight to be made within 30 days following Golovkin’s fifth-round stoppage of Kell Brook on Sept. 10. So Wednesday’s outcome isn’t the first deadline that’s been breached. It’s been that type of negotiation.

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