Hamzah Sheeraz has become the first solid example of what happens when a fighter paid far beyond his traditional market value is eventually forced back into boxing’s normal pay structure.

The Briton has voluntarily relinquished his coveted WBO super middleweight title rather than face mandatory challenger Janibek Alimkhanuly after Queensberry Promotions won the purse bid with an offer of $1,001,809.

Under the WBO’s 75-25 split, Sheeraz would have received $751,356.75. That figure is considerably below the money he has become accustomed to earning since his association with Saudi powerbroker Turki Alalshikh.

Sheeraz has earned seven-figure purses while appearing on Riyadh Season events. His payday for defeating Edgar Berlanga was widely reported to have been around $5 million, many times greater than the $751,356.75 now available to face Janibek.

Now the old boxing market has delivered its verdict after Sheeraz walked away from his stipulated test.

Promoter Warren was clear about the purse available to his fighter after Queensberry secured home advantage for the proposed Janibek fight.

“It’s 75/25, he gets $750K! Why wouldn’t he have this fight? That’s the market value, we’ve secured him home advantage, so get on with the fight,” Warren told IFL TV before Sheeraz relinquished the belt.

The Turki Effect

Alalshikh’s enormous investment in boxing has created purses that traditional promoters would struggle to match for the same fights.

Sheeraz may now be the clearest example of the consequences when that money is no longer available.

There is nothing wrong with a fighter taking the biggest purse available. Few would turn down millions of dollars when somebody is willing to pay it.

The problem comes when that money disappears.

Sheeraz has gone from earning a far bigger purse against Berlanga to being offered three-quarters of a million dollars for one of the most dangerous opponents of his career.

Former WBN Lead Writer Dan Rafael summed up the difference when responding to the suggestion that Sheeraz was being asked to take short money.

“It’s not short money. It’s the actual market assessing his value.”

That is the curse of becoming a Turki ambassador. Once a fighter has operated inside a financial system capable of paying considerably more than the traditional market, returning to conventional boxing economics becomes considerably more difficult.

The Canelo Payday

There could also be a considerable sporting cost to Sheeraz’s decision. The Briton has made no secret of his desire to face Canelo Alvarez, who challenges WBC champion Christian Mbilli on October 31 as the Mexican attempts to regain one of his former super middleweight titles.

Sheeraz holding the WBO title could have given him something Canelo may want if the Mexican defeats Mbilli and decides to rebuild his former undisputed collection. Walking away from the belt removes that potential bargaining chip at precisely the wrong time.

The 27-year-old may therefore have rejected $750,000 against Janibek while simultaneously weakening his position in the pursuit of the considerably greater payday he really wants.

Sheeraz Could Join Zuffa

The situation becomes even more interesting because Sheeraz is approaching the end of his long relationship with Warren.

Sheeraz confirmed last month that he has only one fight remaining on his Queensberry contract and intends to examine his options before deciding where his career continues.

Unless an extension is signed, the ex-WBO ruler could therefore enter free agency after his next appearance.

Zuffa Boxing would immediately become one of the obvious destinations. Sheeraz has already confirmed that joining the promotion is an option he intends to explore when he becomes available.

The financial expectations built during Sheeraz’s rise as one of Alalshikh’s chosen fighters have now collided with Warren’s assessment of what the traditional market will pay.

Sheeraz chose not to accept it.

His next contract may tell boxing whether the traditional market can afford to get him back.

About the Author

Phil Jay is the Editor-in-Chief of World Boxing News (WBN), a BWAA-acknowledged boxing news website founded in 2010. A veteran boxing reporter with 16 years of experience, he has interviewed world champions, broken international exclusives, and reported ringside from major events. His work is published worldwide through WBN and distributed on platforms including Apple News.

Read Phil Jay’s full bio and latest stories.

Promoter Camille Estephan wants Osleys Iglesias to devour Jaime Munguia for breakfast and Hamzah Sheeraz for lunch. The IBF champion may remain hungry forever because neither man has a sensible reason to share a ring with a Cuban national team product carrying knockout power in both hands.

Estephan calls Iglesias the boogeyman at 168 pounds, and this time the promotional label fits. Iglesias offers enough danger to wreck Munguia’s drawing power or Sheeraz’s Canelo plans, while bringing neither the enormous purse nor the international audience needed to make that gamble worthwhile.

“Munguia for breakfast. Sheeraz for lunch. Lately, something pretty peculiar has been happening when I talk about Osleys Iglesias,” Estephan posted on X. “I call up a promoter: ‘No thanks.’ I call up a manager: ‘I would never put my guy in with him.’ When the other big names at 168 lbs talk about future fights, his name strangely vanishes from the conversation. They’re even scared to say his name out loud! Maybe they dream about him at night. Or rather, maybe they’re having nightmares. They can dodge him for a little while longer, they can run but they can’t hide forever.”

The frustration has a legitimate foundation. Iglesias (15-0, 14 KOs) came through Cuba’s national boxing system before turning professional. He combines that schooling with the rare ability to knock out opponents using either hand.

That combination makes Iglesias commercially unattractive to established stars. Munguia has a proven following in the United States and Mexico. Sheeraz has Queensberry, the British market, and the support of Turki Alalshikh. Neither needs an IBF champion capable of taking away everything while contributing little independent drawing power.

Munguia already declined an opportunity to face Iglesias for the vacant IBF belt. Canelo Alvarez later gave Sheeraz a direct route to their fight by proposing that he defeat Iglesias first.

Sheeraz wanted no part of the idea. He said he respected Canelo, though not enough to allow the Mexican star to tell him whom he must fight before receiving his opportunity.

That response exposed how little Sheeraz needs Iglesias. Facing him would place the Canelo payday in the hands of a lethal Cuban southpaw. Waiting allows Turki to deliver the same prize without that danger. Sheeraz can remain available, stay in Turki’s favor, and wait for the fight to fall into his lap through the effects of gravity. He does not need to lift a finger against Iglesias.

The IBF belt gives Iglesias credibility, though it cannot force Munguia or Sheeraz into a unification. The organization can order challengers to face its champion, but it has no authority over rival belt holders pursuing more profitable business.

Eye of the Tiger can sell Iglesias in Montreal and Quebec City, but that market does not control international matchmaking. Attracting Munguia or Sheeraz would require outside money large enough to compensate them for the danger. Iglesias may otherwise need to enter British or American broadcast slots and make himself impossible to ignore.

Guillermo Rigondeaux, Erislandy Lara and Luis Ortiz encountered similar barriers. Their ability discouraged opponents, while their limited drawing power supplied promoters with a financial excuse for avoiding them.

Iglesias first faces Oliver Zaren (19-0-1, 8 KOs) on October 8 in Quebec City. One dull performance or difficult twelve-round fight would damage the knockout aura Estephan is selling. The chances of Munguia or Sheeraz accepting afterward are already slim and none. That may remain true this year and for the rest of their careers.

Terence Crawford returned several hours later with an even harsher response to Ryan Garcia’s challenge, claiming the 38-year-old would punish Ryan so severely that witnesses would want the law involved.

“I’ll f*** @RyanGarcia up so bad people going to be calling the law on me talking about child abuse. Like why did you do that to that little boy you knew he was just talking for the entertainment. Here I am,” Crawford posted on X.

Ryan Garcia Dares Terence Crawford To Square Up

Ryan Garcia wants to fight Terence Crawford in the street or in the ring, daring him to settle their feud with bare knuckles. Crawford started it by calling Ryan a fake who only talks tough when his bodyguards are around.

“@RyanGarcia only talk tuff for the internet. He’s know it’s all for show. I promise if I seen him without his security guards and the cameras he’ll be a complete different person. 😂 he say I’m a bully but I was the one they got for the bullies. 😉” Crawford posted on X.

“Okay so let’s square up bro on or off the ring I’m ready to handle this,” Ryan responded.

“I’m bout to go to the gym f**k it! Don’t make me too mad I’ll be 39 in 10 Days dam.😂” Crawford posted on Xreacting to the public challenge.

Crawford mentioning his age serves as a classic two-way insurance policy veteran fighters rely on when engaging younger rivals. First, it is an obvious attempt to shame Ryan in the court of public opinion. By pointing out that he is turning 39 in ten days, Crawford paints the picture of Ryan as an opportunist barking at an older retired man.

Second, it sets up an immediate built-in excuse if they ever step into the ring and things go wrong. If Crawford fights Ryan and wins, he looks like an ageless boxing master who schooled a prime champion twelve years younger than him. If he gets caught by Ryan’s left hook and loses, the narrative shifts immediately to Father Time: Crawford was 39, long past his prime, and stepped off the couch to do it.

Veteran fighters use that trick constantly to protect their pride. It allows Crawford to dismiss Ryan publicly while simultaneously laying down the foundation for an alibi if he decides the money is too big to pass up.

Crawford has now answered Ryan’s invitation with a graphic prediction rather than an offer to negotiate a boxing match. The personal hostility is obvious. The remaining question is whether either man is prepared to turn the threats into a sanctioned fight, where Crawford’s claims would finally have consequences beyond social media.