Gary Shaw, who promotes junior welterweight contender (and former titleholder) Kendall Holt, won the promotional rights to Holt's mandatory shot against titleholder Lamont Peterson on Tuesday.
Shaw grabbed the rights for a mere $50,000. Since his company was the only one that showed up at the IBF offices for the purse bid, he submitted the envelope with the cheaper total. He would have bid a much higher amount had their been competition at the auction.
As the titleholder, Peterson (30-1-1, 15 KOs) is entitled to 75 percent of the money ($37,500) with Holt (28-5, 16 KOs) getting the remaining 25 percent ($12,500).