Oscar De La Hoya, is a 'Twitter Hype Beast' who frequently promises boxing fans that THIS year will be the year of good fights, good judging, good refereeing, all around good for boxing. But as we know, boxing is a... Weird thing... and it's not as easy as promising things to actually make boxing better, because somewhere, someone has to bite the bullet and sacrifice finances and pride to bring civility, honesty, and legitimacy back to boxing. Oscar De La Hoya contributes to the nonsense in boxing as much as anyone else, and shows this by Golden Boy taking ownership over Ring Magazine. We've already discussed in the fan post chronology how this is a conflict of interest, so you should take a look at Bossman's post and engage in that discussion, but this is about the belt itself.
The Ring Magazine Championship Belts really served as a tool for just that - It encouraged boxers to take the best fights, so they could truly become the true champion of a division, not just a title holder. Ring Magazine Championship Belts were typically the one thing in boxing that was uninterested, and thus gave viewers a decent understanding of who matters in a division because almost every boxer in a top 10 holds some form of a belt - Hell, some even outside of people's top 10s hold belts. This new system is atrocious and allows for more human error - a thing that plagues boxing already.The system before made sense, the number 1 fighter fought the number 2 fighter, and then they proved who was truly the number 1 fighter. But this doesn't make sense. If a fighter ranked 2nd fought a fighter ranked 3rd, and a fighter ranked 1st fought a fighter ranked 5th, the fighter ranked 1st could obtain the title. This doesn't make any sense, isn't any good for boxing, but also could prove to be silly, especially in the majority of divisions where 1 and 2 are the cream of the crop, and then 3-10 are mostly just fluff. Imagine, (going by Scott's rankings) Yuri Gamboa vs. Ponce de Leon for THE RING CHAMPIONSHIP... Like, it just doesn't make sense. And that's going by Scott's rankings, take a look at some funny matchups you could make between fighter 1 or 2 and fighter 4 or 5 if you sniff around BoxRec or other rankings.
Now, to point at the motives here - Golden Boy no longer have to work with Top Rank to make their guy the top fighter... Floyd Mayweather can fight Andre Berto for the Ring Championship, while fights with Top Rank guys are avoided. Golden Boy can stack their deck and actually affect the accepted rankings by having a 'legitimate' champion. This in turn, makes relations worse (that is, if anyone still cares about Ring Championships) between Golden Boy and Top Rank, as Golden Boy will surely try to hedge their 'legitimate champions' against Top Rank to call for unequal/unfair pay.
This is a big strike to boxing because instead of the golden year we were promised, we receive upset and robbery over and over, and instead of moving for more legitimacy, we are forced to settle for less. And for what? So there are less vacancies? Who gives a damn?