Boxing champion Floyd Mayweather has been stripped of the welterweight world title he won in May against Manny Pacquaio. The match was billed as "fight of the century".

The World Boxing Organization (WBO) has ruled since Mayweather, who earned more than $220m following the fight, failed to pay the $200,000 sanctioning fee, his title has been withdrawn.

A WBO statement read: "The WBO World Championship Committee is allowed no other alternative but to cease to recognize Mr Floyd Mayweather, Jr as the WBO Welterweight Champion of the World and vacate his title, for failing to comply with our WBO Regulations of World Championship Contests."

Mayweather, who also holds the WBC and WBA titles, was supposed to have paid the amount by Friday, 3 July, and should have also relinquished the junior middleweight title.

The WBO said as per regulations Mayweather cannot hold world titles in multiple weight categories.

The boxing body added: "The WBO has the utmost respect for Floyd Mayweather Jr and all that he has accomplished during his storied career."

"Mr Mayweather has always agreed with and understood that world championships have both privileges and responsibilities and that status as WBO champion is subject to and conditioned on compliance with the WBO rules and regulations."

The interim title and the belt will be awarded to Timothy Bradley.

Immediately after the announcement, Mayweather Promotions CEO Leonard Ellerbe said in an interview with the ESPN: "It's a complete disgrace. Floyd will decide what, or if any, actions he will take. But in the meantime he's enjoying a couple of hundred million he made from his last outing and this has zero impact on anything he does."

"Floyd Mayweather has a great deal of respect for each and every organisation, as he has always had in his 19-year career, but he will not be dictated to by any organisation or person as it relates to his decision making."