Professional boxing, or prizefighting, is regulated, sanctioned boxing. Professional boxing bouts are fought for a purse that is divided between the boxers as determined by contract. Most professional fights are supervised by a regulatory authority to guarantee the fighters' safety. Most high-profile bouts obtain the endorsement of a sanctioning body, which awards championship belts, establishes rules, and assigns its own judges and referees.
George Foreman vs. Muhammad Ali in 1974, one of the most famous fights in the history of professional boxing