Floyd Mayweather Jr. Stripped of Title Won in Manny Pacquiao Fight

Floyd Mayweather Jr. Manny Pacquiao - H 2015
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Mayweather earned the welterweight belt in the highly publicized May bout.

Floyd Mayweather Jr. is without his latest belt. 

The 38-year-old boxer has been stripped of the title he earned in the May welterweight bout against Manny Pacquiao, the World Boxing Organization announced Monday.

Mayweather missed Friday's deadline to pay a $200,000 sanctioning fee, as the WBO requires all boxers to pay a percentage of their purse to the organization. Mayweather also lost his two junior middleweight titles, per the WBO rule prohibiting boxers from holding titles in multiple weight classes.

"The WBO World Championship Committee is allowed no other alternative but to cease to recognize Mr. Floyd Mayweather, Jr. as the WBO Welterweight Champion of the World and vacate his title, for failing to comply with our WBO Regulations of World Championship Contests," the organization said in a statement.

Mayweather, who holds a 48-0 boxing record, has two weeks to file an appeal.

"The WBO has the utmost respect for Floyd Mayweather Jr. and all that he has accomplished during his storied career, and [he] has always agreed with and understood that World Championships have both privileges and responsibilities and that status as WBO Champion is subject to and conditioned on compliance with the WBO Rules," the resolution read.

Mayweather Promotions CEO Leonard Ellerbe told ESPN.com that the ruling is a "complete disgrace." Ellerbe added, "Floyd Mayweather has a great deal of respect for each and every organization, as he has always had in his 19-year career, but he will not be dictated to by any organization or person as it relates to his decision making."

The bout between Mayweather and Pacquiao, which was deemed boring by some viewers, set a record by raking in more than $400 million from pay-per-view.