Jessie Magdaleno has declined to face Emanuel Navarrete for the vacant WBO featherweight title, leaving undefeated Ruben Villa as next in line to vie for the title.
Magdaleno did not agree to his portion of the purse after Top Rank won the bid for the fight with an offer of $250,000. Magdaleno was to receive 40% of the purse bid, but sources told ESPN that he balked at that percentage after it fell well below the $200,000 he was offered for the fight.
The other 60% of the bid was to go to Navarrete, based on the fact that he would have to travel from Mexico to Las Vegas, where Top Rank planned to stage the fight at the MGM Grand Conference Center in late October.
Magdaleno and Navarrete (31-1, 27 KOs), a former junior featherweight titleholder, were the two top-rated featherweights with the organization. The matchup was mandated after Shakur Stevenson vacated his belt to move up to junior lightweight.
“After five days, we didn’t receive any confirmation on behalf of Magdaleno or his team,” said Gustavo Olivieri, the in-house counsel for the WBO. “We then issued a championship resolution granting him 24 hours, whether he would participate [in the fight] pursuant to the rules set forth in the purse bid. He didn’t respond so we had to proceed with the next available contender who is Ruben Villa.”
Alex Camponovo, general manager and matchmaker for Thompson Boxing, who promotes Villa (18-0, 5 KOs), told ESPN on Thursday that he is currently in negotiations with Top Rank to finalize the fight against Navarrete.