The International Boxing Association (IBA) announced it will reward prize money to boxers who achieved Olympic medals at this year’s Paris Games.
IBA will grant USD 100,000 to gold medalists, USD 50,000 to silver medalists, and USD 25,000 to bronze medalists based on the rankings of boxers at the July 26-August 11 Games.
“Our athletes and their efforts must be appreciated. 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,” said IBA president Umar Kremlev.
After being stripped of recognition by the International Olympic Committee (IOC) in 2023, IBA will not be organizing the boxing tournament for this year’s Paris Olympics. The IOC made this decision last June because the organization failed to implement reforms concerning governance, finance, and ethical issues.
As a result, the IOC is in charge of arranging the boxing tournaments at the Paris Games. However, there are concerns that the sport may not be included in upcoming Games, as it is not part of the initial program for Los Angeles 2028.
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