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Sometimes, you've got to let something go before you can move forward.
Wake (20-4-2, 12 KO), who has knocked out seven of his last eight opponents, does not yet have an opponent for the now-vacant IBF title.
Frampton (22-0, 14 KO) first lifted the belt from Kiko Martinez in 2014 and successfully defended it against Chris Avalos, Alejandro Gonzalez Jr., and then-WBA champion Scott Quigg, The WBA stripped Frampton of that title earlier this year for refusing to face Guillermo Rigondeaux.
Santa Cruz (32-0-1, 18 KO) currently holds the WBA featherweight title, which I'm sure would soften this blow quite a bit should Frampton come out victorious. If not, he'll be coming off a loss without a single belt to his name.
No pressure.