Pensacola, FL—Square Ring Promotions and Hitz Entertainment Corporation announced today that they have reached an agreement for the Fres Oquendo vs. Shannon Briggs fight for the WBA World Heavyweight Championship.

“We are really excited that we were able to reach an agreement with Kris Lawrence and Henry Rivalta of the Heavyweight Factory,” said John Wirt, CEO of Square Ring Promotions.

“It was a long process and a difficult negotiation, but the good news is that Fres will now have the chance to finally win the WBA Heavyweight crown. I want to thank Gilberto Mendoza, George Martinez and everyone else at the WBA for this great opportunity.”

“Fres is in fantastic shape and he is focused on winning this bout like I have never seen before,” said Bobby Hitz, President of Hitz Boxing. “I met with him today and watched him spar and he looked awesome. His preparation is second to none and I predict it is going to be a great fight.”

A purse bid actually took place on February 13. However, the requirements established in the WBA regulation were not met and it was not valid.

At the WBA headquarters, located in Panama City, only Henry Rivalta, from The Heavyweight Factory, was present on behalf of Briggs. Mr. Rivalta presented an offer of $ 400,000.

However, according to the Rules of the World Boxing Association, in Appendix E, the minimum amount to participate in a heavyweight category bid is one million dollars.

Therefore, Aurelio Fiengo, a WBA Directory Member and director of the purse bid, adhering to the rules of the body, declared the process invalid.

For this reason, the Championships Committee of the organization called for a second purse bid for February 23rd, which is now canceled with the agreement in place.