By Allen Fox: Unbeaten #1 IBF/WBO welterweight contender Mike Jones (26-0, 19 KOs) and #2 IBF contender Randall Bailey (42-7m 36 KO’s) will be fighting for the vacant International Boxing Federation welterweight title in 2012.

Neither of their promoters was able to reach an agreement on Thursday. As such, the fight will go to purse bid on January 24th. Jones, 28, is backed by Top Rank, while the 37-year-old Bailey is promoted by Dibella Entertainment and will be the ones bidding on 1/24.

Jones has been fighting as a pro for the past six years and most recently defeated Sebastian Lujan by a lopsided 12 round unanimous decision in a IBF welterweight title eliminator bout. It was one of Jones’ better performances with him winning by the lopsided scores of 118-110, 119-109 and 119-109.

Bailey, a former WBO light welterweight champion, is a 16-year pro who has faced many of the top fighters in the sport over the years. His best wins have come against guys like DeMarcus Corley, Jackson Osei Bonsu and Rocky Martinez. He suffered a very questionable loss to Herman Ngoudjo in June 2007, and was worn down and stopped by Juan Urango. Bailey has devastating one-punch power early in his fights but tends to wear down if his fights go into the second half.

Bailey will have to try and get to Jones early if he’s to have any chance at winning the fight. Although now a welterweight, Bailey is still more of a light welterweight and was a lot more dangerous at that weight than he is at 147.

Jones is a decent fighter but hardly a world beater. He’s going to be okay as long he’s kept away from good fighters like Manny Pacquiao, Floyd Mayweather Jr., Victor Ortiz, Andre Berto or Saul Alvarez. Once his promoter Bob Arum puts him in with any of those guys, Jones will lose and lose badly.