Peter Quillin Vacates WBO Title, Roc Nation and Top Rank React

Peter Quillin has released a statement confirming that he will vacate his WBO middleweight title in order to not face #1 contender Matt Korobov.

In a short statement, Quillin explained that the “difficult decision” was made to allow flexibility to face the other top fighters in the division.

“I’d like to thank WBO president Paco Valcarcel and his organization for their support throughout the years,” said Quillin. “Winning the WBO world championship was a highlight in my career and something I’ll never forget, this is a difficult decision, but in order to make the fights the fans and I want against my fellow middleweights at the top of the division, I needed to relinquish the title.

This is an exciting new chapter in my life, and I’m looking forward to cementing my spot as the best middleweight in the world.”

The canceled bout, won via purse bid by Roc Nation Sports, would have been the company’s first boxing event. Their bid of $1.9 million entitled Quillin, as the champion, to a career-high pay-day of $1.4 million.

“Roc Nation Sports wishes Peter Quillin good luck. I’m sure he has a bigger pay-day to have given up his title and $1.4 million,” said Michael R. Yormack, Roc Nation Sports President Chief of Branding. “We will move on to the next fight to promote.”

Top Rank Vice President Carl Moretti, whose company represents Korobov, framed Quillin’s move as a detriment to the sport.

“It doesn’t make sense, but based on what we’ve seen happening over the last year — nothing makes sense, nothing is logical, everything is illogical,” said Moretti. “It’s just another example of where a lot of things stand and not for the good of boxing.”

Quillin’s WBO title reign began on October 20, 2012 with a 12-round unanimous decision victory over Hassan N’Dam. He made three successful defenses over Fernando Guerrero, Gabriel Rosado and Lukas Konecny.

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I’m going to assume Quillin’s advisor, Al Haymon, must have a signed contract for Peter to face Floyd Mayweather on Cinco de Mayo next year. If not, this move makes absolutely no sense.

Outside of Mayweather, is there a feasible fight that can generate that much money for Quillin in the middleweight division? Cotto recently announced he’s sitting out the rest of 2014, which likely means he’s headed for a showdown with Canelo. Gennady Golovkin fights for HBO and Quillin’s reluctance to sign against Korobov was partly due to a fear that the fight would end up there (according to Golden Boy, Quillin sees himself as a “Showtime fighter).

A fight with Danny Jacobs in Brooklyn makes the most sense, but they’d have to fight twice for Quillin to get near the $1.4 million he was guaranteed with Korobov. Nonetheless, Quillin vs. Jacobs in an action fight on paper, and Showtime can easily spin it as a “middleweight championship match” since Jacob received one of the numerous “titles” the WBA recognizes when he beat Jarrod Fletcher last month. If it goes down, Quillin’s PR damage control will be a lot easier to pull off.