The International Boxing Association (IBA) has announced that it will provide prize money to Olympic champions and medallists at the upcoming Paris Games. The body clarified that it is not responsible for organizing the boxing tournament at the Paris Olympics, having lost recognition by the International Olympic Committee (IOC) the previous year.
According to the IBA, gold medallists will receive $100,000, silver medallists will be awarded $50,000, and bronze medallists will receive $25,000 based on their placement at the July 26-August 11 Games. This decision mirrors the earlier announcement made by World Athletics, making it the first governing body to offer $50,000 in prize money for its Olympic champions in Paris.
Umar Kremlev, President of IBA, stated, 'Paris gold medallists in the boxing tournament will receive a substantial financial reward of $100,000. Out of this amount, the athlete will receive $50,000, their National Federation will receive $25,000, and their coach will receive $25,000.' Kremlev emphasized the organization's commitment to appreciating the efforts of athletes and its substantial investment in boxers, reaffirming continued support across all levels.
The IBA's total prize money fund commitment exceeds $3.1 million and is set to benefit over 100 boxers. IBA Secretary General Chris Roberts hailed the initiative as a benchmark for International Federations on champion treatment, expressing gratitude for the opportunity to support and reward boxers for their dedication.
However, the IOC's decision to withdraw recognition from the IBA in June due to governance, financial, and ethical concerns poses potential challenges for the future of boxing in the Olympic Games. Despite the boxing tournaments at the Paris Games being organized by the IOC, there are apprehensions about its inclusion in the subsequent Games, as the sport is not initially listed in the programme for Los Angeles 2028.
