Olympics 2024 – IBA to award prize cash for boxing medals

The Worldwide Boxing Affiliation (IBA) will supply prize cash to all those that grow to be Olympic champions and medallists at this yr’s Paris Video games, the physique introduced on Wednesday.

The physique just isn’t organising the boxing event on the Paris Olympics after it was stripped of recognition by the Worldwide Olympic Committee (IOC) final yr.

Based mostly on the placings of boxers on the July 26-Aug. 11 Video games, the IBA mentioned it’s going to award $100,000 to gold medallists, $50,000 for silver medals and $25,000 for bronze.

The transfer follows that of World Athletics, which in April introduced it could be the primary governing physique to supply $50,000 in prize cash for its Olympic champions, beginning in Paris this yr.

“Paris gold medallists within the boxing event will obtain a considerable monetary reward of $100,000. Out of this quantity, the athlete will obtain $50,000, their Nationwide Federation will obtain $25,000, and their coach will obtain $25,000,” IBA President Umar Kremlev mentioned in an announcement.

“Our athletes and their efforts have to be appreciated. The IBA gives alternatives and invests significantly in our boxers, they continue to be as the point of interest, and we’ll proceed to assist them in any respect ranges.”

Kremlev added that the entire prize cash fund dedication was value greater than $3.1 million and can be distributed to greater than 100 boxers.

“We’re setting a transparent instance for a lot of on how Worldwide Federations needs to be treating their champions,” IBA Secretary Normal Chris Roberts mentioned.

“That is actual assist with actual actions, a factor that has grow to be uncommon within the worldwide sports activities setting. We’re glad to be the lead sport to have this chance to assist our boxers and reward them for his or her arduous work and dedication.”

The IOC determined in June to strip the IBA of recognition over its failure to finish reforms on governance, finance and moral points.

The boxing tournaments on the Paris Video games are being organised by the IOC, however there are fears it may be excluded from future Video games, with the game not on the preliminary programme for Los Angeles 2028.