This Monday, February 13th, 2017, the purse bid for the fight between Shannon Briggs and Fres Oquendo for the World Heavyweight title of the World Boxing Association was held.
However, the requirements established in the WBA regulation were not met and it was not valid.
At the WBA headquarters, located in Panama City, only Henry Rivalta, from The Heavyweight Factory, was present on behalf of Briggs. Mr. Rivalta presented an offer of $ 400,000. However, according to the Rules of the World Boxing Association, in Appendix E, the minimum amount to participate in a heavyweight category bid is one million dollars.
Therefore, Aurelio Fiengo, WBA Directory Member and director of the purse bid, adhering to the rules of the body, declared the process invalid.
For this reason, the Championships Committee of the organization called for a second purse bid for February 23rd, 2017. It will be held at the offices of the WBA, located in Panama City, Panama. Thus, the parties involved in the process were notified.
The Championships Committee called Briggs and Oquendo to negotiate a fight on January 2nd. The maximum term to reach the agreement was 30 days, and since they did not, the WBA called to purse bids.