- The IBA was stripped of its recognition by the IOC last year due to governance issues.
- Boxing will be organised by the IOC at the 2024 Paris Olympics
- IBA pledges to provide prize money to Olympic medallists
The International Boxing Association has joined World Athletics as the first sports organisation to offer prize money to Olympic medallists, despite having no connection to the Paris 2024 competition.
The disgraced Russian-led organisation was stripped of its recognition by the International Olympic Committee last year over governance, financial and ethical problems.
Because the Paris tournament will be run by the IOC, boxing officials took issue with a proposal by the IBA to award prizes to athletes who perform well at the event, and rejected it.
IBA president Umar Kremlyov, a former president of the Russian Boxing Federation, announced an “unprecedented move in the history of sport” in a statement on Wednesday, claiming that more than $3.1 million (£2.4 million) would be distributed to more than 100 athletes.
He said the IBA would award $100,000 (£78,500) for a gold medal, $50,000 (£39,000) for a silver medal and $25,000 (£19,500) for a bronze medal.
Half of this money goes to the athlete, the other 50 percent is shared between the coach and national federation. A boxer who comes fifth but loses in the quarter-finals will also receive $10,000 (£7,850).
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“Our athletes and their efforts should be recognised,” Kremlyov said. “The IBA provides opportunities and invests heavily in our boxers. They remain at the heart of it 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 step is consistent with our existing efforts.”
“We look forward to this opportunity to honour the new champions, medallists and quarter-finalists of Paris 2024.”
IBA Secretary General and CEO Chris Roberts added: “We are setting a clear example to many of us of how an international federation should treat its champions.”
“This is real support with real action, which is becoming rare in international sport.”
“We are pleased to have the opportunity to support our boxers and reward their hard work and dedication.”
It remains to be seen whether boxers and federations (including GB Boxing) will accept any funding from the discredited organisation.
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However, sources are also sceptical that the IBA will pay out the promised prize money, given its checkered track record.
The IOC, the World Boxing Association – the new body set up to replace the IBA – and the British Boxing Association were contacted for comment.
The IBA's announcement comes seven weeks after athletics broke with 128-year-old Olympic tradition and became the first sport to offer gold medallists $50,000 (£39,000) in prize money.
IOC President Thomas Bach criticised World Athletics last week, saying “World Athletics' proposal would benefit 48 of the approximately 2,000 athletes who take part in the Olympic Games, as well as tens of thousands of athletes around the world who aspire to take part in the Olympic Games.”
“The role of an international federation in our view, and the role of every other international federation in their view, is to develop the sport on a global scale.”
