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The IBA pays boxers out of prize money

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Moscow, January 25 – The International Boxing Association (IBA) announced on its official website that it has paid out nearly $8 million in prize money to boxers in major competitions between 2021 and 2022.
The International Sports Federation stresses that paying these prize money will provide the boxers with financial stability and will help raise the status of the sport, which will attract more athletes.

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Earlier, the International Olympic Committee (IOC) threatened to exclude boxing from the program of the 2024 Olympic Games in Paris after the IBA extended the contract with Gazprom. IBF President Umar Karimlev announced on December 11 at the World Boxing Forum in Abu Dhabi that the organization intends to renew the sponsorship agreement with the Russian company. Prior to this, the IOC’s sporting director, Keith McConnell, said that the IOC’s suspension from the IOC’s junior IAAF membership was still in effect.
In 2019, the International Olympic Committee suspended the membership of the IBA (then – AIBA). The boxing tournament was saved at the Olympics, but at the Tokyo Games it was held by a special commission from the International Olympic Committee. In August 2021, Kremlev announced that the IBA has paid off all debts thanks to the sponsors. In June, the International Olympic Committee announced that the boxing tournament at the 2024 Paris Olympics would once again be held outside the International Boxing Association. Boxing is also not included in the preliminary program for the 2028 Olympics.

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