Olympic boxers deserve prize money, says former governing body

The International Boxing Association (IBA) has accused the International Olympic Committee (IOC) of doing too little to reward boxers and demanded prize money for them.

In an open letter, the IBA, which is no longer a recognised international federation by the IOC, said Olympic medals were not enough of a reward for athletes at the Games.

“Medallists should receive those ultimate prizes made of the corresponding metals,” the IBA said.

“Currently, Olympic medals do not reflect their value, which is disrespectful to the athletes who train hard for many years and sacrifice so much to reach the highest level.”

The IOC decided a year ago to strip the IBA of recognition over its failure to complete reforms on governance, finance and ethical issues.

The Court of Arbitration for Sport (CAS) rejected an appeal by the IBA in April.

“Athletes are those who bring substantial income to the IOC, which is absolutely not acknowledged.

“Olympic medallists do not receive prize money, even though the IOC profits significantly from TV rights, sponsors, and ticket sales,” the IBA said.

“It is obvious that this enormous profit is only possible because of the athletes, their coaches, and sports federations. This needs urgent change now.”

The IOC does not offer payments for medals at the Games.

It does, however, redistribute part of the revenues the Games generate to its stakeholders, including international federations and national Olympic Committees (NOCs).

It also supports athletes through its Olympic Solidarity fund.

The IBA, which is led by Russian Umar Kremlev, has been in an ongoing war of words with the Olympic body since its exclusion.

The boxing competition at the Paris Games is being organised by the IOC but the Olympic body has said it cannot continue doing that.

This means the sport’s spot in the Los Angeles 2028 Olympics is in doubt.