Boxing Federation Offers Bonuses For Olympic Medalists

The International Boxing Association (IBA) will pay medal winners prize money at the 2024 Paris Olympic Games.

This will follow the example of the track and field global federation World Athletics. The move may be a surprise since the boxing will be run by the International Olympic Committee (IOC). The IBA was stripped of its governance role after worries over its financial dealings.

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The IBA reportedly did not implement the IOC’s guidance on preventing Russian fighters from competing because of the war with Ukraine. There were also worries about the IBA’s management. Russian gas company Gazprom was allegedly providing finances. However, the IBA will pay gold, silver, and bronze medalists bonuses from their budget of $3.1 million. This will go further than World Athletics, who only pay gold medal winners a bonus of $50,000.

“The international federations have to treat all their member federations and their athletes on an equal basis and to try to balance this gap between the privileged and the less or under-privileged,” Thomas Bach (IOC President)

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