It is vacant at Welterweight. I'm sure there isn't any sanctioning fees for the Ring, since you really don't put it on the line right?
Pacquiao is the 140lb Ring Champ and has the WBO belt.
Shane has the WBA, Berto has the WBC
but Floyd and Shane will be the best Welterweight fight in Yeeeeaaaarrrss!
It won't because the ring title is vacant. To determine a ring belt for a vacant title, #1 and #2 ranked ww must fight and the winner will get the ring title. However, some kind of way Pacquiao is the #1 ranked WW on ring rankings. Although it should be Shane Mosley, but it is what it is. I don't consider ring titles real belts because they are bs. They are supposed to determine who's the man in the division, but ummmm epic fail.