Back in the day, when a guy was the "undisputed" champion ... he often was invited to a dinner by the publishers of Ring Magazine and presented with a nice belt and was fed a good meal. Had his picture taken. Got a little drunk. Today, if a guy wants to be undisputed champion, he has to give three percent of his check to EACH org who recognizes him as champ. If you have FOUR belts, you have to give 12 percent of your purse to the organizations every time you defend. That's probably one reason why there are so few unified champs. In fact, some challengers, Carlos Baldomir is the first who comes to mind, when fighting Zab Judah for three of the welterweight titles, simply said I'll pay a sanctioning fee to one org (the WBC) but I'm not paying almost 10 percent of my purse for three belts. Then he beat Judah, and he only got the WBC belt. All the other orgs said their titles were vacant ... because Baldomir didn't pay their fee. He beat their champ, but they didn't get their cut of his purse. So forget him. All these sanctioning bodies are just a money grab. That's why you could probably make an argument having more than two belts might not be worth it. Who wants to lose 12 percent of their purse every time they defend their four titles? It's not like the orgs give you a new belt every time you make a defense. It's not like the belt they DO give you is even worth three percent of most purses.