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WBA PURSE BID REGULATIONS WorldBoxingAssociation 15. BID (underlining supplied) 15.1 The champion and the challenger, selected by the World Championships Committee, shall have no more than THIRTY (30) days to reach an agreement on holding the mandatory fight. These THIRTY (30) days are the first THIRTY (30) days of the SIXTY (60) days which precede the date of the mandatory fight. If any of the parties (Champion or Challenger) states his unwillingness to negotiate, or requests that a Purse Bid takes place immediately before the THIRTY (30) days are over, the World Championship Committee can call the Purse bid before the period to negotiate ends. 15.2 If the champion and the challenger do not come to an agreement during period granted by the World Championships Committee, it shall have the approval of the President of the Association, to open the fight to Purse Bid. 15.3 At any bid, and in addition to the sanction fee, each of the promoters or participating corporations shall pay a BID SERVICE FEE of ONE THOUSAND DOLLARS (US$ 1,000.00) United States currency, which must be paid at the time the proposal is submitted. These sums will not be reimbursable since it is considered that it is established to cover expenses incurred by the World Boxing Association for services effectively provided in the organization, processing and carrying out of the Bid. 15.4 The Bid to grant the promotional rights of a mandatory fight shall be directed by the President of the World Boxing Association or by the person whom he appoints, on the day and the time and place indicated in the convocation for the bid. 15.5 All persons who participate in the bid must be present when the offers are opened. 15.6 The promoter who has been granted the promotional rights of a World Championship fight by a bidding process, may not sell or in any way transfer his rights to third parties, without the prior consent of the World Championships Committee authorized by the President. 15.7 If the owner of the promotional rights does not carry out the fight without justified cause, in the opinion of the World Championships Committee, he shall lose the guarantee deposit, corresponding to ten percent (10%) of the proposed purse and in addition he may not participate in the new bid for said fight which the World Boxing Association will proceed to call. In the event of a repetition by the promoter or the corporation of the foregoing, the offender shall be penalized with a suspension of up to two (2) years, which penalty shall be imposed by the World Championships Committee, taking into account the pertinent circumstances in each case. 15.8 In the event that the favored promoter or corporation should fail, without justified cause in the opinion of the World Championships Committee, to promote the fight on the date indicated for the world championship match which was the subject of the bid, the money paid by the promoter or the corporation corresponding to ten percent (10%) of the proposal shall be distributed as follows: For the champion 75% For the Challenger 20% For the WBA 5% 15.9 Only BONAFIDE PROMOTERS who are registered with the Association on the date on which the bid is announced, shall participate in such bid. 15.10 The World Championships Committee shall prepare the forms which contains the requirements to be complied with at the bids promoted by the World Boxing Association. These forms will be at the disposal of interested parties, promoters and corporations, at the offices of the President of the World Boxing Association and of the Director of the World Championships Committee. 15.11 Proposals to participate in the bid shall be given in at the time indicated to the Director of it and when required. 15.12 Qualified bidders should present the following to participate in the bid: 1. ONE THOUSAND DOLLARS CASH (US$ 1.000,00) currency of the United States, or payment of the equivalent amount in CASHIER'S CHECK OR CERTIFIED CHECK, for the same amount indicated above, in the name of the World Boxing Association, to make the pay service rate for the bid. This amount shall not be reimbursed. 15.13 The proposal should include the places (Cities and/or countries) where the fight could be held, and shall not be more than three (3). 15.14 The proposal must indicate the date on which the fight will be held, which should be no more than SIXTY (60) DAYS NOR LESS THAN FORTY-FIVE DAYS (45) from the date indicated, unless the interested parties agree to hold the fight before the minimum term. The period shall be counted beginning on the date the bid is awarded. The winner of the Purse Bid must confirm the boxers and the World Championships Committee the date and place of the fight, in a period no longer than FIFTEEN (15) days counted from the day the Purse Bid took place. 15.15 Failure to comply with the commitment on the date indicated WITHOUT JUSTIFIED CAUSE, in the opinion of the World Championships Committee, shall give rise to the World Championships Committee declaring the right of the promoter or corporation as lapsed, and shall proceed to distribute the ten percent (10%) paid by the promoter under the provisions hereof. 15.16 The purse indicated in the bid for both boxers shall be distributed as follows: 1.- For fights held in the country of origin, residence or nationality of the champion, he shall receive SEVENTY-FIVE PERCENT (75 %) of the purse and the challenger shall receive TWENTY-FIVE PERCENT (25%). 2.- For fights held in any other country, the champion shall receive EIGHTY PERCENT (80%) of the purse and the challenger TWENTY PERCENT (20%). 15.17 For fights for a vacant title or for fights between rated challengers of those approved by the World Boxing Association, the distribution is as follows: 1.- If the fight is held in the country of origin, residence or nationality of one of the contenders, he shall receive FORTY PERCENT (40%) and his opponent SIXTY PERCENT (60%) 2.- If the fight is held in a neutral place, or if the contenders are of the same country of origin, residence or nationality, in such a way that neither one has an advantage over the other, the purse shall be divided in equal parts between the contenders. 15.18 MINIMUM PURSE: With regard to the bids, the following minimum sums shall be established to be offered in each of the categories: For the categories MINIMUM TO JR. BANTAM US$ 80,000,00 For the categories BANTAM to Jr. LIGHT US$ 120,000.00 For the categories LIGHT to Jr. MIDDLE US$ 150,000.00 For the categories MIDDLE to CRUISER US$ 200,000.00 For the category HEAVYWEIGHT US$ 1,000,000.00 15.19 Both the Champion and the challenger who have committed through a Purse Bid, shall be obliged to comply with the provisions indicated therein. If the Champion should refuse to comply with the commitment acquired at the bid, the title shall be declared VACANT, and he shall be excluded from the ratings of the World Boxing Association for a minimum period of SIX (6) MONTHS. In this case, the leading available contenders taken from the current official list of ratings shall be called to fill the vacancy for the corresponding title. If the challenger refuses to comply with what is established in the bid, he shall lose his condition of challenger to the champion, and shall be excluded from the ratings of the World Boxing Association for a minimum period for ONE (1) YEAR.- In this case, the World Championships Committee shall call the leading available contender and chosen from among those rated in the respective category, to dispute the Title to Champion, except if special circumstances exist which justify granting an exception. 15.20 TICKETS: The promoter or the enterprise who wins the promotional rights of a World Title Fight shall furnish a minimum of FIVE (5) Tickets in economy to the champion from his residence or training camp to the place of the bout and furnish the challenger with FOUR (4) tickets in economy. In case the fight is for a vacant title both boxers shall receive FOUR (4) Tickets. FightersOnline Home PurseBid Home |