Junior featherweight titlist Victor Terrazas will make his first defense against mandatory challenger Leo Santa Cruz on a date to be determined after Golden Boy, Santa Cruz's promoter, won a purse bid on Friday in Mexico City to gain promotional control of the fight.
Golden Boy, represented by publicist Ramiro Gonzalez -- now 4-0 for the company as their purse bid representative -- won with a bid of $526,000. That bid beat the only other offer, $451,000 by Fernando Beltran's Zanfer Promotions, which handles Terrazas.
The WBC had given Golden Boy and Zanfer until June 7 to negotiate a deal and if they did not make one, the purse bid would have been that day. However, Golden Boy matchmaker Eric Gomez said that he could not get Zanfer to negotiate with him so he asked the organization to order an immediate purse bid.
"They wouldn't negotiate with me, so why wait?" Gomez said Friday.
Under the terms of the purse bid, Terrazas, as the titleholder, is entitled to 70 percent of the winning bid ($368,200) and Santa Cruz is entitled to the remaining 25 percent ($157,800).
Gomez said Golden Boy has approximately 90 days to put on the fight. He said he was not sure when or where it would take place but said there were two undercards that were possible landing spots for it.
It could take place on the Floyd Mayweather Jr.-Saul "Canelo" Alvarez Showtime PPV undercard on Sept. 14 at the MGM Grand in Las Vegas. Another possibility would be for it to take place on the undercard of the Danny Garcia-Lucas Matthysse junior welterweight title fight that the company is trying to finalize. That fight, if it happens, will be Sept. 7 on Showtime at a venue to be determined.
Gomez said he would meet with Golden Boy chief executive Richard Schaefer to discuss where they will put the fight when Schaefer is back in their Los Angeles office next week.
"Wherever we put the fight, it's a good fight, an explosive fight," Gomez said. "I know Terrazas very well. He fought for us a couple of times in Mexico underneath some of Canelo's fights. He's aggressive. It's the right style for Santa Cruz and it will make for a good fight."
Terrazas (37-2-1, 21 KOs), 30, of Mexico, won a vacant 122-pound world title on April 20 in Mexico City, scoring a split decision against countryman Cristian Mijares, the former junior bantamweight champion.
Santa Cruz, a Mexico native based in Los Angeles, is 24-0-1 with 14 KOs. The 24-year-old former bantamweight titlist vacated his belt and moved up in weight last month. In his debut in the division, Santa Cruz stopped former two-time junior bantamweight titlist Alexander Munoz of Venezuela in the fifth round in one of the featured bouts on the Mayweather-Robert Guerrero pay-per-view card on May 4.