Sugar Shane Mosley will fly home frustrated after withdrawing from his scheduled fight with Anthony Mundine following a breach of contract by the bout's co-promoter, Millennium Events.

The 42-year old Mosley was scheduled to fight the Australian light middleweight contender on October 23, but his trip down under was greeted by bad news after Millennium Events committed a breach of contract.

"I'm very disappointed with this turn of events because I was planning on making a big statement by beating Mundine, but I was left with no choice but to withdraw," Mosley said in an official statement. "The fans in Australia have welcomed me with open arms, and I hope to return to fight for them one day in better circumstances."

"It's unfortunate that this fight will not be taking place, and we apologize to all of Shane's Australian fans, but there are contracts in place for a reason, and when the terms are not adhered to, we have no choice but to protect our fighter, and that's what happened here," said Richard Schaefer, CEO of Golden Boy Promotions.

On the other hand, Mundine also voiced out his disappointment about the cancellation of his fight with Mosley, whom he called a classic sooky American.

"I can't believe this has happened," Mundine told The Daily Telegraph. "I wasn't told until 10 o'clock last night. It's a classic case of a sooky American."

"To want to be paid a million dollars before a fight is beyond demanding, but it's what these big names want. It's disappointing, because I've put myself through hell to prepare for this," he added.

Mundine, former two-time WBA Super Middleweight Champion, said he went through hell to keep himself in top condition for his showdown with the former pound-for-pound champion. Mundine admitted Mosley's withdrawal really shattered not only because of the spoiled opportunity to beat the American but for the fans.

"I've never trained harder for anything, because it was such a big deal to beat him and then get to America. And I'm shattered for the fans. A lot of people wanted to see me in the ring against this guy and a lot of people had already paid for their ticket," he added.

With Mundine fight likely all but history, Mosley's quest to become a world champion again took a hit. A sensational win against the Aussie could land him another title shot in his next fight. But all of these went out of the window because of an incompetent promotional outfit.