Zolani Tete’s camp is worried by reports that the vaunted World Boxing Super Series (WBSS) may be discontinued.
International reports revealed that the series - which is being contested in the cruiserweight, junior-welterweight and bantamweight, in its second season is in danger of being called off ahead of the semifinal bouts tentatively scheduled between February and March.
This is because of the mounting problems faced by the owners of the series, Comosa AG, whose board is said to be divided.
The reports alleged that investors have not all forked out their share of investments, leaving the series teetering on the brink of collapse.
Some boxers are claimed to be still owed bonuses from the quarterfinal bouts even though their contracts stipulate that payment should be made within five days.
Tete, who has qualified for the bantamweight semifinals against Nonito Donaire after beating Russian Mikhail Aloyan, however insisted that he had received his own payment, albeit belatedly.
“We did not receive our payment in the stipulated five days but eventually we got everything that was due to us,” the boxer’s manager, Mla Tengimfene said.
Tengimfene admitted that he had been made aware of the reports of possible collapse by his English promoter, Frank Warren, who sent them to him. “Yes Frank informed us about these reports but so far we do not know what is happening other than learning about it in the media like everyone.”
However the Mdantsane boxer’s camp is concerned since the WBSS is an innovative move to crown one champion per division.
No budget for the series was revealed in the second season but $50m (R713m) was the carrot in the first season.
Tete holds the WBO bantamweight crown while Donaire is a WBA title-holder, a belt he captured from Irish Ryan Burnett.
The uncertainty over the continuation of the series which presents a winner with the Muhammad Ali Trophy in each contested weight class, comes as IBF bantamweight champion Emmanuel Rodriguez, who is scheduled to face Japanese star Naoya Inoue in another bantamweight semifinal, has predicted that he would advance with Tete to the finals.
The Puerto Rican star made the remarks even though he is facing a favourite in Inoue.
While everything hangs in the balance with Comosa AG Tete said he would still push to unify against Donaire even if the series collapses.
While the series has received rave reviews since it kick-started last year and crowned universally recognised champions in Ukrainian Oleksander Usyk in the cruiserweight and Callum Smith in the super-middleweight, it could not secure a major US television partner.
This year it has partnered with new streaming company DAZN.
Should it indeed collapse it will remind South Africans of a similar occurrence when Premier Boxing League was discontinued with mounting debts, including the R1m still owed to Xolisa Ndongeni...