By Przemek Garczarczyk

More Jacobs-Derevyanchenko craziness. The International Boxing Federation (IBF) has just released the following statement:

A Purse Bid Procedure was scheduled for Thursday, August 9, 2018 for the vacant IBF Middleweight Championship fight between #1, Sergiy Derevyanchenko and #3, Daniel Jacobs. That Purse Bid procedure has been canceled. Both sides reached an agreement.

Earlier in the day, the IBF announced that there would be a SECOND Jacobs-Derevyanchenko purse bid August 9.

On June 11, 2018, the IBF ordered #1, Sergiy Derevyanchenko and #3, Daniel Jacobs to begin negotiations for the vacant IBF Middleweight Championship fight. They could not reach an amicable agreement within the time frame set by the IBF. Therefore, the IBF will call for purse bids to be held in these offices on Thursday, August 9, 2018 at 12 Noon. Bids must be submitted at 11:45 AM to be promptly opened at 12 Noon.

At the time of the bid, promoters must remit a check to the IBF in the amount of $ 5,000.00, a non-refundable participation fee. You must also submit at that time a check representing 10% of the total amount of the bid. Within 5 business days following the purse bid procedure, the Winning promoter must forward another check to this office representing 10% of the bid, for a total of 20% of the total amount bid.