Mayweather to be stripped of title belt

Everything has a price.

Floyd Mayweather won the World Boxing Organization welterweight title by defeating Manny Pacquiao on May 2, but the 38-year-old megastar will be stripped of the championship because of a lack of compliance.

CNN reports Mayweather declined to pay the $200,000 sanctioning fee for the 147-pound belt by deadline. Also, he decided against vacating the World Boxing Association and World Boxing Council junior middleweight titles, which was necessary since boxers are not permitted to hold world championships in multiple weight classes.

Read more from CNN.