May 1979 Muhammad Ali sells the WBA Heavyweight Crown to Bob Arum for $400,000. Instead of defending his WBA Heavyweight Championship, Muhammad Ali sold his Crown to Bob Arum for $400,000. Unable to secure a Heavyweight Championship fight in Argentina with Mike Rossman for $6,000,000, in early 1979, the 3-time heavyweight champion decided to vacate the WBA Title. Argentina businessman, Juan Pastor, tried another venue, by offering Muhammad Ali $4,000,000 to fight Victor Galindez. The proposed bout was scheduled for this summer. Victor Galindez, of Argentina, recently regained his WBA Light Heavyweight Championship, by defeating Mike Rossman in April 1979. Galindez, a hero in his country, wants to fight Muhammad Ali in July or August. Galindez said he planned to come in at 180 lbs., and would out-speed the old and slow champion. Galindez has been offered $1,000,000 for his share in the bout. Muhammad Ali, who wanted $6,000,000 to fight Rossman, may have to re-adjust his demands. Ali stated, 'Even if I don't have the WBA Crown, we can still fight for the Southern Hemisphere Heavyweight Championship.'
Arum was quick to get on the WBA title tournament back in 1967 too. Bob Arum (and some other white guy) was the legal part of the Ali promotional team that featured Jim Brown etc. formed in 1966 (I forget the name of the company). You can add Arum's name to that of Don King as promoters who got their way into the sport very quickly via being attached to champion Muhammad Ali. Arum was an unknown in 1966, and got onboard the Ali train then as a minor player, a young attorney. But when Ali was stripped in 1967, I believe Arum was instrumental in quickly setting up the made-for-TV tournament to decide a new WBA champion.
The South African contingent wanted that WBA Heavyweight Championship in the worst way. They had Kallie Knoetzee and Gerrie Coetzee all lined up in 1979. John Tate ruined the party. If either of them had won the title, Muhammad Ali would have been over their in a 'FLASH' for $8,000,000.
If I owned the WBA title I would not sell it because I would feel bad for taking sombodys money. I might put it in the village raffle.
I'm getting the feeling Muhammad Ali was 'For Sale' in 1979 thru 1982. Giving up the WBA crown,,,,but selling it on the cheap for $400,000. When he knew that he would come back if Knoetzee or Coetzee won the title, for a cool sum of $8,000,000 in Pretoria, South Africa. Of course Ali would have twisted it, as some righteous move for bettering race relations.
Muhammad Ali may have been the 'only' Heavyweight Champion to sell his Championship Belt. James J. Jeffries retired, and then came back to challenge Jack Johnson. Joe Louis, quietly walked away, and then tried to regain it legitimately versus Ezzard Charles. Rocky Marciano retired, and did not sell it.
