By Mark Vester
WBA welterweight champion Antonio Margarito has officially turned down a potential January 24 showdown with Shane Mosley. After weeks of negotiations, Margarito let a Tuesday deadline come and go. Sources close to the situation state that Margarito was unhappy with the money being offered for the HBO televised showdown, which a few have listed as $2 million dollars.
BoxingScene.com's Robert Morales reported last week, Mosley signed off on the deal last week after Golden Boy Promotions CEO Richard Schaefer sat down with him and worked out a deal. Margarito never came in to the Top Rank Offices to sign his end of the deal.
Top Rank President Todd duBoef told The Los Angeles Times that on Tuesday he received a not from Margarito's co-manager, Sergio Diaz, that Margarito would be "passing on the fight." Margarito is in line for a June 09 rematch with Miguel Cotto, who the Mexican champion knocked out in July.
"Part of their thinking, I'm sure, is that the Cotto fight did good numbers and that's the fight they want, more than a guy that Cotto beat," duBoef said. "Shane Mosley was a big name seven years ago, but they weighed the consequences and decided it was onward and upward."
Schaefer was enraged with the decision, pointing to Margarito bashing Mosley in the media and told The Times that Margarito is no longer the most feared fighter.
"Margarito should shut up and not call out people anymore after this, when they accept and then he chickens out," Schaefer said. "Margarito says he's the most feared fighter in the world. Well, he's now lost that title."
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