IBA Demands Prize Money for Boxers, Criticizes Olympic Committee

The International Boxing Association (IBA) has accused the International Olympic Committee (IOC) of not providing sufficient rewards for boxers and demanded prize money for medalists. The IBA, no longer recognized by the IOC, argued that Olympic medals alone do not compensate athletes adequately for their efforts. The association emphasized the need for urgent changes.

The International Boxing Association (IBA) on Wednesday accused the International Olympic Committee (IOC) of failing to sufficiently reward boxers and demanded the introduction of prize money for athletes.

In an open letter, the IBA, which is no longer recognized by the IOC, asserted that Olympic medals were not an adequate reward for boxers. 'Medallists should receive prize money made of the corresponding metals,' the IBA stated. 'Current medals do not reflect their true value, which disrespects athletes who train hard and sacrifice much to compete at the highest level.'

The IOC stripped the IBA of its recognition a year ago due to unaddressed issues in governance, finance, and ethics. An appeal by the IBA to the Court of Arbitration for Sport was rejected in April. 'Athletes generate significant income for the IOC, yet this is not acknowledged. Olympic medallists receive no prize money, although the IOC earns substantial profits from TV rights, sponsors, and ticket sales,' the IBA noted.

'This significant profit is possible only because of the athletes, their coaches, and sports federations. Immediate change is necessary.' The IOC does not provide monetary rewards for medals but redistributes Games-generated revenue to stakeholders, including international federations and national Olympic Committees.

Additionally, the IOC supports athletes through its Olympic Solidarity fund. Leaders by Russian Umar Kremlev, the IBA has been embroiled in a dispute with the IOC since its exclusion.

The boxing events at the Paris Games are being organized by the IOC, which has indicated that it cannot continue this arrangement, putting the sport's inclusion in the Los Angeles 2028 Olympics in jeopardy.

(With inputs from agencies.)