The WBA Championships Committee notified both fighters on September 11 to inform them that they had 30 days to reach an agreement.
Negotiations between the two parties end in six days, on October 12. However, Tom Loeffler, managing director of K2 Promotions who is representing Golovkin, told the WBA that it is unlikely that the parties will reach an agreement before the deadline and recommended that the fight go to a purse bid.
The request is currently being evaluated by the WBA.
Article 1, Section D of the WBA rules states that the boxers and their representatives, or the president of the WBA, can ask at any time during the negotiation process that a purse bid be offered to the public
Such a request must be examined and approved by the Championships Committee.
Jacobs’ lawyer Leon Margules asked the Championships Committee to reconsider the percentages in advance of the purse bid.
According to the rules of the organization, Article 9, Section D orders that the percentages for the fight between a Super World and World champion are 75% and 25% respectively.
However, the request made by Margules will be reviewed by the Championships Committee and its decision is likely to take bids on October 22.
