LONDON (Reuters) - Former Olympic champion Audley Harrison will be paid for his dismal defeat against WBA world champion David Haye in November after the British Boxing Board of Control (BBBC) ruled out withholding his purse on Tuesday.

Harrison threw just one punch in a pitiful display against his fellow Briton who retained his title in Manchester with a third round technical knockout.

The BBBC said after the fight that they were considering withholding part of Harrison's estimated one million pounds ($1.56 million) purse but have now ruled out doing so.

"The stewards of the British Boxing Board of Control having interviewed Mr. Audley Harrison with regard to his contest against Mr. David Haye at the MEN Arena, Manchester on Saturday, 13th November 2010 have accepted his explanation and will not be taking the matter any further," the BBBC said in a statement. Harrison, 39, has refused to quit as a professional heavyweight despite being pilloried for his performance against Haye.

(Writing by Justin Palmer, editing by Pritha Sarkar)