You could be right too. I remember Bute had loads of fans that would argue his record was better than Froch's around that time, and he definitely was Ring no.1 at one point in front of both Ward and Froch.
I remember Bute being #1 as well, I think after Ward beat Kessler he took over at #1.
It's quite a tricky area, who determineds who are the #1 and #2? Most rankings differ greatly on the top 5 placings.
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