— Published 17 September 2021

AIBA breaks its piggy bank

AIBA

Its reintegration into the Olympic movement remains very uncertain, but AIBA continues to move forward. The international boxing body has announced its decision to award prize money to the medallists of the next men’s world championships, scheduled from October 24th to November 6th in Belgrade, Serbia. This will be the first time in AIBA’s 75-year history. Each new world champion will receive a $100,000 cheque. The body will pay $50,000 for a silver medal and $25,000 for bronze. These bonuses reach a total of 2.6 million dollars. AIBA Russian President Umar Kremlev commented: “This is the first time AIBA will financially reward medal winners at World Championships. But this is how it should be. This money is well deserved, considering the years of preparation and the efforts made to participate in AIBA’s major tournament. This development will greatly benefit our boxers, not only by helping them perform in the ring, but also by allowing them to gain financial comfort and autonomy.” Despite an extensive reform plan and the announcement of financial balance, AIBA remains in the IOC’s sights. The Olympic body is still waiting for guarantees as to the reality of the change in the governance management, but also on the credibility of its financing plan.