Boxing medallists at Paris Olympics to be offered prize money by International Boxing Association
Boxing medallists at the Paris Olympics will be offered prize money by the IBA
The International Boxing Association has announced plans to award prize money to medal winners at the Paris Olympics this summer.
The IBA is not involved in Olympic boxing since its suspension from the International Olympic Committee in 2019 and this decision is likely to provoke a strong reaction from the IOC who formally expelled the Russian-led organisation last year.
According to a statement from the IBA, over $3.1m (€2.8m) will be distributed to more than one hundred boxers as follows:
Additionally, boxers beaten in the quarterfinals will each receive $10,000 (€9,217).
IBA President Umar Kremlev said in a statement: “The IBA offers opportunities and invests considerably in our boxers, they remain as the focal point, and we will continue to support them at all levels.
“We pride ourselves on being among the pioneers in rewarding the athletes for their Olympic successes.
“As IBA President, I will always fight for our athletes’ well-being, and this step is consistent in terms of the existing commitments we have already taken. I am looking forward to this opportunity to honour the new champions, medallists, and quarter- finalists from Paris 2024,” he said.
The gold medallist from Paris will also be eligible to compete in the IBA Champions’ Night events.
In April, World Athletics became the first international federation to announce it would award prize money at an Olympic Games. Gold medal winners in the 48 athletic events in Paris will each receive $50,000 (€46,102)
Furthermore, the IBA has been handing out prize money to medallists at their world and continental championships since international boxing resumed after the Covid-19 pandemic.
But their move to involve themselves in the Paris Games will provoke a huge controversy in boxing.
The IBA makes no reference in their press release as to whether boxers from National Federations who have left the organisation and joined World Boxing - a new organisation wants to recognised by the IOC as the new world governing body for the sport – will be eligible for the prize money.
Many will view the IBA move as a cynical exercise to cause further division in boxing and reduce the chances of the IOC restoring the sport in time for the Los Angeles Games in four years’ time.
The IOC and World Boxing have been asked for a comment on the IBA announcement.
Meanwhile, inside the ring at the final Olympic qualifier in Bangkok super heavyweight Martin McDonagh brushed aside the challenge of Vietnam’s Doan Minh Hieu Ngoc.
The referee stopped the contest in Round 1 after giving the Vietnamese fighter three standing counts. McDonagh will be in action again on Saturday against either Bulgaria or Turkey.
Meanwhile, at lunchtime on Wednesday Aidan Walsh and Grainne Walsh are in action as is Amy Broadhurst who now represents the UK.
