By Jake Donovan

With talks long ago hitting a wall, the mandatory title fight between Lee Selby and Eric Hunter has finally reached resolution. TGB Promotions - Selby's stateside promoter - won the rights to promote the bout, as per the outcome of a purse bid hearing held Tuesday afternoon at International Boxing Federation (IBF) headquarters in Springfield, New Jersey. 

TGB Promotions submitted a winning bid of  $302,990, of which 85% - or just north of $250,000 - will go to Selby, leaving Hunter with a payday of just under $46,000 for his first career title fight. The only other bidder present was Main Events, who put up $51,000 on behalf of Greg Cohen (Hunter's promoter), who was unable to participate as he is not officially registered as an IBF promoter. 

The mandatory defense was originally due by March 1, but the deadline was extended as to sort out issues in sanctioning a final eliminator. Hunter (21-3, 11KOs) was ultimately granted the position by default when the next available contender, Argentina's Jonathan Victor Barros opted to go in a different direction. 

From there, the IBF ordered immediate negotiations between camps with hopes of reaching resolution in a timely fashion. 

It wasn't quite how things worked out, although both sides have differing reasons as to why such was the case. 

"There was little communication during the [negotiation] period," Cohen told BoxingScene.com shortly after the purse bid results. "I was a little disappointed. But it is what it is. Eric gets the chance of a lifetime to fight for the world title. It's what every fighter dreams of when they first lace up a pair of gloves."

Part of the breakdown in talks was due to a dispute over the ordered purse split. IBF Championship Contest Rule 10.E states as follows:

10.E. Disbursement of Bid Proceeds

The Champion will receive 75% and the Challenger will receive 25% of total amount of the bid. If the offer is for a vacant title, each boxer will receive 50% of the total amount bid. The percentage splits for elimination bouts and box offs are governed by Rule 9D. In a bout between a Champion and a Challenger ranked #3 or below, the Champion shall receive 85% and the Challenger will receive 15% of the total amount of the bid.

 Notwithstanding the purse bid percentages described herein, if the circumstances so warrant, the Championships Chairman or the President may make a recommendation to the Board of Directors that a different purse bid split be employed. Any variation in the purse bid percentages from those set forth in this rule must be approved by a majority vote of the Board of Directors.

Because Hunter was ranked #3 at the time of the ordered fight, the IBF ordered an 85/15 split of the total purse upon the start of negotiations in mid-January.

Cohen contacted the IBF on February 5, requesting a purse bid modification to reflect the more traditional 75/25 split. Such would have been the case had Hunter landed - and won - the ordered eliminator with Barros, but unfortunately was left to settle for a title shot by default, a reward that came without advancement in the IBF rankings. 

The request was received by the IBF and submitted to TGB, who in turn contacted the sanctioning body on February 16, objecting to the proposed purse bid offer. 

The IBF made a final ruling on February 18, in favor of Selby, referencing the latter part of Rule 10.E in making its final determination. 

"On February 18, 2016, the IBF Board of Directors participated in a conference call to discuss the request to modify the Purse Bid Split for the Selby vs. Hunter IBF Featherweight championship bout." IBF President Daryl Peoples informed both promoters in an official letter, of which a copy has been obtained by BoxingScene.com. "A majority of the Board of Directors voted that the purse bid split shall be 85% for the champion Lee Selby and 15% for #3 ranked Eric Hunter."

At the very least, it's still a chance to fight for the title for Hunter. 

"We can make money after becoming the champion," noted Cohen of Hunter's potential upside with a title win. 

The streaking contender from Philadelphia has been idle since a 1st round knockout of Antonio Escalante last May. The win was his fourth in a row, a run that looks better in retrospect having begun with a March '14 decision over Yenifel Vicente, who resurfaced with a Knockout of the Year contender in a frightening one-punch stoppage of Juan Dominguez last December.

Also included among the stretch are wins over Daniel Ramirez and divisional gatekeeper Rene Alvarado.

Selby (22-1, 8KOs) claimed the featherweight title in an upset win over previously unbeaten Evgeny Gradovich last May in London, England. The 28-year old Welshman retained his title in a 12-round nod over former three-division champ Fernando Montiel in an optional title defense last October.

The win over Montiel - which headlined a Premier Boxing Champions (PBC) event on ESPN - came with the understand that Selby's next fight would be his mandatory defense.

There's a chance that such a fight could head back home - or at least for the fighting pride of Wales to defend in the United Kingdom. Whispers have circulated of the fight landing on the April 9 show headlined by Charles Martin's voluntary heavyweight title defense versus unbeaten Anthony Joshua at the already sold-out O2 Arena in London. 

Selby (22-1, 8KOs) would undoubtedly welcome the opportunity to return to the venue where he not only claimed the featherweight title, but also won an eliminator to get to that point. He is 3-0 at O2 Arena, having outpointed previously unbeaten Ryan Walsh in Oct. '13, followed by a 9th round knockout of Joel Brunker one year later to become the mandatory challenger before outpointing Gradovich last May. 

For now, any such placement remains in the speculation stage as Selby's team prepares for next steps. 

"We are pleased with winning the Selby vs. Hunter purse bid and look forward to announcing a date and location shortly," TGB Promotions' Tom Brown told BoxingScene.com. 

Signed contracts specifying the date and venue must be returned to the IBF within the next 15 days, with the fight ordered to take place no later than May 21, 2016 (90 days from the purse bid hearing).

Jake Donovan is the managing editor of  BoxingScene.com. Twitter: @JakeNDaBox