Amir Khan will vacate his Commonwealth lightweight title following victory over Martin Kristjansen.
Promoter Frank Warren made the announcement at a post fight press conference last night.
Purse bids had been called by the Commonwealth Boxing Council for this week for a showdown between Khan and Jon Thaxton.
But Warren said that, following Thaxton's defeat against Yuri Romanov on Friday in a European title fight, the contest was no longer attractive.
"It's a pointless fight," said Warren. "What does Thaxton have to offer, and what does Amir have to prove by beating Jon Thaxton?
"I just hope the brains trust around Thaxton can look him in the eye and explain to him why he is tens of thousands of pounds out of pocket.
"We offered him £125,000 to fight Amir, but instead he fought Romanov and got the crap beaten out of him in front of 600 people for less than half that amount.
"He got a bad cut and also has to defend his British title, and he doesn't fit in with our plans any more."
Khan added: "Thaxton was offered a lot of money but didn't take the chance. I'm not going to wait around for him.
"I still believe that I am good enough to fight for a world title, and I remain on course to do that."
Meanwhile Warren said that Khan will fight again in June, although it is unlikely to be for a world title.
He said that he would ideally like to see Khan have at least one more fight before challenging Joel Cassamayor (WBO interim champion) or Nate Campbell (WBO full champion).
Last night's win over Kristjansen was an eliminator for the WBO belt.
However, it would not be unrealistic for Khan to have three of four more contests before contemplating a world title fight.
That would still leave him on schedule to fight for a world title before the end of the year.
Promoter Frank Warren made the announcement at a post fight press conference last night.
Purse bids had been called by the Commonwealth Boxing Council for this week for a showdown between Khan and Jon Thaxton.
But Warren said that, following Thaxton's defeat against Yuri Romanov on Friday in a European title fight, the contest was no longer attractive.
"It's a pointless fight," said Warren. "What does Thaxton have to offer, and what does Amir have to prove by beating Jon Thaxton?
"I just hope the brains trust around Thaxton can look him in the eye and explain to him why he is tens of thousands of pounds out of pocket.
"We offered him £125,000 to fight Amir, but instead he fought Romanov and got the crap beaten out of him in front of 600 people for less than half that amount.
"He got a bad cut and also has to defend his British title, and he doesn't fit in with our plans any more."
Khan added: "Thaxton was offered a lot of money but didn't take the chance. I'm not going to wait around for him.
"I still believe that I am good enough to fight for a world title, and I remain on course to do that."
Meanwhile Warren said that Khan will fight again in June, although it is unlikely to be for a world title.
He said that he would ideally like to see Khan have at least one more fight before challenging Joel Cassamayor (WBO interim champion) or Nate Campbell (WBO full champion).
Last night's win over Kristjansen was an eliminator for the WBO belt.
However, it would not be unrealistic for Khan to have three of four more contests before contemplating a world title fight.
That would still leave him on schedule to fight for a world title before the end of the year.
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