The International Boxing Association (IBA) leadership has taken the bold decision to award prize money to all champions and medallists at the Paris 2024 Olympic Games. This unprecedented step in the history of sport aims to support athletes, coaches and national federations and to underline the IBA's commitment to providing the best support to athletes based on their hard work and dedication to the sport of boxing.
“We support all athletes taking part in the 2024 Olympic Games and, on behalf of the entire international boxing community, we are very proud to announce that all Paris gold medalists in the boxing tournament will receive a generous prize of $100,000. Of this amount, $50,000 will be paid to the athlete, $25,000 to the national federation and $25,000 to the coach. Silver medalists will receive a prize of $50,000, $25,000 to the athlete and the remaining $25,000 will be distributed equally between the coach and the national federation. Bronze medalists will receive $25,000, of which $12,500 will go to the athlete and $12,500 will be distributed equally again. In addition, a prize will be paid to athletes who lose in the quarterfinals and finish in fifth place.NumberEach boxer will receive $10,000 from the IBA, bringing the total prize money to more than $3.1 million, which will be distributed among more than 100 boxers,” IBA President Umar Kremlev said.
“Our athletes and their efforts must be highly valued,” President Kremlyov continued. “The IBA provides opportunities and invests heavily in our boxers. They remain at the heart of our sport and we will continue to support them at all levels.”
“We are proud to be pioneers in rewarding athletes for their Olympic success. As IBA President, I will always fight for the well-being of our athletes. This measure is consistent with our existing efforts. We look forward to this opportunity to honour our new champions, medallists and quarter-finalists at Paris 2024,” he added.
Furthermore, President Kremlev said that the gold medalists would be eligible to compete for the champion title at the IBA Night of Champions event.
The IBA announced the prize money for the Paris event after making multiple statements about the need for this change. The IBA is proud to be leading the way in providing tangible prize money for all quarter-finalists in the 13 weight classes offered at the event.
IBA Director General and CEO Chris Roberts OBE said the decision was taken to support boxers “with deeds, not words”. The IBA remains pre-eminent in this area of support and will continue its work in this area.
“We are setting a clear example to many people of how an international federation should treat its champions. This is genuine support with real action which is rare in international sport. We are delighted to be a leading sport with the opportunity to support our boxers and reward their hard work and dedication,” said Roberts.
A special awards ceremony to recognize the medallists of the Paris Olympics will be announced soon. The winners will be awarded IBA prize money after passing their respective anti-doping procedures.
