Oleksandr Usyk has relinquished the WBO heavyweight title.
Fabio Wardley had emerged as the next challenger for Usyk after he earned the WBO interim title with a stunning 11th round-stoppage of Joseph Parker at The O2 last month and will now be elevated to full WBO champion.
Usyk was told by the WBO in September that he must face the Parker vs Wardley winner, but the Ukrainian's second reign as undisputed champion is now over after the WBO confirmed he had vacated the belt.
A statement from the WBO read: "The World Boxing Organisation announced today that it has received formal communication from Team Oleksandr Usyk regarding the future of the WBO Heavyweight Championship. After thoughtful consideration, Usyk has elected to relinquish his title.
The statement continued: "We accept and respect his decision to relinquish the WBO Heavyweight Super Championship. This is not a farewell, but - as expressed by his team - a respectful pause. The doors of the WBO will always remain open to Oleksandr Usyk and his team."
The unbeaten Wardley becomes Britain's newest world heavyweight champion, following on from Daniel Dubois, Tyson Fury and Anthony Joshua.
Wardley, who is a former White Collar fighter, had welcomed a clash with Usyk, telling SportNews: "That has been the goal for a number of years now.
"That's been the objective. That's been everything I've wanted."
But the Ipswich boxer has been denied the chance to challenge Usyk, who could have been defending all of his WBC, WBA, IBF and WBO belts against the Brit.
Wardley has extended his explosive record to 20 wins, with 19 knockouts, and just the solitary draw against Frazer Clarke, which he resolved with an emphatic first-round knockout in their rematch.
Usyk had cited an injury as the reason for not agreeing terms for a mandatory WBO title defence against Parker and the 38-year-old is yet to confirm his next career move since stopping Daniel Dubois to reclaim the IBF belt this summer.
