IBF Orders 60/40 Split In Favor Of Hrgovic Against Ruiz Before Purse Bids
Following a meeting with the IBF Board of Directors, it was decided that Filip Hrgovic should receive a 60/40 split of the purse for the upcoming interim IBF heavyweight title fight against Andy Ruiz.
This ruling was made before the purse bid hearing scheduled on February 23rd, 2023, in Springfield, New Jersey. In situations with a vacant title, the purse bid is usually divided equally.
However, for the upcoming Hrgovic vs Ruiz fight, the former is the higher-ranked and mandatory challenger, while Ruiz is the third-ranked fighter according to the IBF rankings.
And that gave the IBF some discretion, as shown.
“According to our rules, a purse bid would not be ordered for an interim title. However, because the Hrgovic and Ruiz camps have expressed their interest in this bout taking place, we are once again making an exception to our rule and proceeding to a purse bid. Going forward, the IBF will deal with interim titles on a case-by-case basis and proceed with each one accordingly.”
Hrgovic-Ruiz: IBF Board Approves 60/40 Split For Hrgovic Ahead Of February 23 Purse Bid Hearing https://t.co/jVuaxqJGD3 via @boxingscene
— Christopher Jason Young (@GFofBoxing) February 23, 2023
In order to participate in the bidding, a $100,000 minimum bid must be submitted along with a $5,000 non-refundable fee to the IBF at least fifteen minutes before the purse bid hearing begins at 12:00 p.m. ET.
The highest bidder must submit ten percent of the total amount at the time of the auction. An additional ten percent of the sum must be provided within five working days of the public bidding, resulting in a twenty percent deposit stored in escrow.
While that may be the case, whether the fight will actually come to fruition is still up in the air. Ruiz’s camp has yet to commit to the bout officially.
At the same time, Hrgovic is keen to stay busy in preparation for his IBF mandatory title challenge versus the unified champion Oleksandr Usyk (20-0, 13KOs).
And yet, Usyk is keen on agreeing to an undisputed clash with WBC champion Tyson Fury. With that being said, there are still plenty of hurdles to navigate.