Floyd Mayweather (left) has been stripped of the WBO title he won in defeating Manny Pacquiao.

Floyd Mayweather was stripped the World Boxing Organization welterweight world title on Monday after he failed to pay a required fee.

Mayweather had failed to meet the deadline last Friday for paying the 200,000 U.S. dollars sanctioning fee required by the WBO after he won the belt from Manny Pacquiao on May 2 in Las Vegas in the richest fight of all time, earning a reported 220 million dollars in the process. In total, the much-hyped fight generated about 400 million dollars in US revenues.

"Despite affording Mr. Mayweather Jr. the courtesy of an extension to advise us of his position within the WBO Welterweight Division and to vacate the two 154-pound world titles he holds, the WBO World Championship Committee received no response from him or his legal representatives on this matter," WBO said in a statement.

"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."

According to WBO rules, Mayweather should have paid a fee that is 3 percent of his purse to fight for the world title up to a maximum of 200,000 dollars.

The rules also prohibit WBO champions to hold any belts in any other weight divisions. Mayweather is currently also the WBC and WBA champion at junior middleweight (154lb), as well as at welterweight (147lb).

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