GENEVA (AP) — Boxing's governing body, found guilty of fraud by the International Olympic Committee, announced Wednesday it would pay $50,000 in prize money to each gold medalist at the Paris Games.
The promise of cash payments is doubly divisive for the IOC, which has severed ties with the International Boxing Association and does not allow the governing body to pay prize money to Olympic medallists.
The IBA announced that it is setting up prize funds of $3.1 million each for the male and female boxers who reach the quarterfinals in 13 weight classes, as well as their coaches and national teams.
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The coach and national team of the Olympic boxing champion will each receive $25,000, reducing the payments per quarterfinalist to a total of $10,000.
The source of funding is unclear, but the IBA, led by Russian President Umar Kremlyov and backed by the country's state-owned energy company Gazprom, has pledged to give gold medallists $200,000 at the 2023 world championships, with plans to increase the amount in future years.
“As IBA president, I will always fight for the health of our athletes and this measure is in line with existing commitments we have made,” Kremlyov said in a statement.
The Olympic organizing committee did not support World Athletics' April pledge to pay $50,000 prize money to each of the 48 gold medallists in track and field events at the Paris Olympics, and also pledged to pay prize money to silver and bronze medallists at the 2028 Los Angeles Olympics.
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The IOC has revoked its recognition of the IBA, meaning that for the second consecutive Summer Olympics the IBA will not be involved in the organisation of the games at Paris.
The IOC raised concerns about the boxing body's governance, its reliance on funding from Gazprom, and the fairness of officiating and bouts at the 2016 Rio de Janeiro Olympics, when the body was led by long-time IOC member CK Wu.
The IBA said the Paris medallists would be honoured at a “special awards ceremony” after “passing their respective anti-doping protocols”.
The IOC has been contacted for comment.
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Prize money for Olympic medallists has traditionally been paid by state governments or national teams but will not come directly from funds paid to the IOC, which wants governing bodies to invest in developing sports below elite level.
World Athletics said the $2.4 million prize money for the winners of the Paris Games would come from IOC revenues. Athletics' $39.5 million contribution to the 2021 Tokyo Olympics was the largest chunk of the IOC's $540 million funding allocation.
Boxing was due to receive more than $17 million in Tokyo Olympic revenue, but it was held up by the IOC, which had to oversee the running of the qualifying and knockout matches.
The IBA will not receive any funding from the IOC's revenues from the Paris Games, and a rival organisation of national federations called World Boxing will be set up to be the official governing body for Olympic boxing.
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“We are setting a clear example to many people of how an international federation should treat its champions,” IBA chief executive Chris Roberts said.
AP Summer Olympics: https://apnews.com/hub/2024-paris-olympic-games
