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After Floyd Mayweather beat Manny Pacquiao last month, he made it clear that he thought it was time to give other fighters a chance to fight for world titles. He effectively stated that he wouldn't accept the WBO title he'd won from Pacquiao and that he'd be vacating all of his belts. But things Mayweather's world can change on a whim, and now Floyd is thinking about keeping all of his shiny trinkets.
Upon learning that the WBO was going to allow Timothy Bradley and Jessie Vargas fight for their to-be vacant title, Floyd decided that he wanted his attorney to reach out to the WBO to inform them that he needs more time to make his decision on vacating their belt. WBN has copies of the letter from Mayweather's attorney to the WBO and their official decision.
In short, Mayweather's attorney petitioned the WBO to prevent them from allowing a fight for their world title until Mayweather has sufficient time to decide whether or not he really wants to vacate. The WBO responded by citing all of Mayweather's statements (indicating that he intended on vacating his titles), but ultimately gave him a July 3rd deadline to inform them of what he wants to do. Essentially this means that the Bradley-Vargas fight on June 27th is no longer a title fight at this time. If Mayweather does decide to vacate his WBO title, the WBO would likely confer the winner of Bradley-Vargas their world title after the fact. As with everything Mayweather, he feels compelled to be in complete control at all times...