(Although I would rather just 1 title per division, I was thinking about some of the good things about alphabet titles)
Opportunity- every fighter has the chance to become champion. Now that might sound stupid. But think of the days when certain fighters were just completely ducked. Floyd Patterson refused to fight Sonny Liston for over 3 years, and in the past there have been much worse cases. At least with the alphabet system, you can pick a particular group, pay their sanctioning fees and eventually become a mandatory challenger.
It encourages activity- Imagine top level fighters fighting 4 times a year. That is not a bad byproduct of being an undisputed alphabet champ. Each group has a yearly mandatory, and if a fighter actually met those requirements, boxing would be better for it.
People often compare boxing to other sports, and argue "what if there were 4 super bowl champs"- but that is not really a fair argument, because boxing is a world sport, and the sports that it is usually compared to are American sports. After all, the NFL champ does not play the CFL champ or the NFL Europe champ. And look at college football, how champs do they produce each year.
Boxing is starting to look like it did back in the turn of the 20th century. Back in the era of John L. Sullivan, every newspaper had their own champion(with there own belts)and the public paid little attention to the titles. This gave the fighters incentive to fight each until there was a general consensus as to the real champ.
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