Top Rank's Bob Arum announced today that Timothy Bradley Jr and Jessie Vargas will have more than pride and positioning and money to fight for on June 27, when the two meet at the StubHub Center in Carson, California, as the vacant WBO welterweight title will be up for grabs.

Bradley (31-1-1, 12 KO) has held the WBO welterweight title in the past, gaining it via his controversial decision win over Manny Pacquiao in 2012. He made two successful defenses against Ruslan Provodnikov and Juan Manuel Marquez in 2013, and lost the belt back to Pacquiao in 2014.

In Bradley's last bout, he went to a draw with Diego Chaves, which was also controversial, but this time because the majority felt Bradley had done enough to win.

Vargas (26-0, 9 KO) is currently the WBA "world" junior welterweight titleholder, and is moving back up to 147 for this fight and an opportunity to headline on HBO. The 26-year-old Vargas was one of Mayweather Promotions' early prospects, and signed with Top Rank in 2012. He'll be fighting for a belt that his former boss has decided not to keep, as Mayweather won the WBO title from Pacquiao on May 2.

The winner of Bradley-Vargas will have to face Sadam Ali (22-0, 13 KO).