Olympic boxing medalists in Paris promised cash prizes by rogue governing body

LAUSANNE, Switzerland (AP) — The boxing governing body declared rogue by the International Olympic Committee said Wednesday it will pay $50,000 in prize money to each gold medalist at the Paris Games.

The cash promise is doubly confrontational for the IOC, which has severed ties with the International Boxing Association and does not approve of governing bodies paying prize money to Olympic medalists.

The IBA said it has a $3.1 million prize money fund for each male and female boxer who reaches the quarterfinals in 13 total weight classes, plus their coaches and national teams.

The coach and national team of each Olympic boxing medalist will both get $25,000, and the scale of payments goes down to $10,000 in total for each quarterfinalist.

The source of the money is unclear but the IBA led by its Russian president Umar Kremlev has been supported by the country’s state energy firm Gazprom.

“As IBA president, I will always fight for our athletes’ well-being, and this step is consistent in terms of the existing commitments we have already taken,” Kremlev said in a statement.

The Olympic body did not support a pledge in April by World Athletics to pay $50,000 prize money to each of the 48 gold medalists in track and field in Paris.

The IOC also has de-recognized the IBA, which will not be involved in organizing bouts in Paris for the second straight Summer Games.

The IOC cited its concerns about the boxing body’s governance, reliance on funding from Gazprom, and the integrity of judges and bouts at the 2016 Rio de Janeiro Olympics. Those games were organized when the boxing body was led by a longtime IOC member, C. K. Wu.

Paris medalists are set to rewarded at “a special awards ceremony,” IBA said, after “successful passing of respective anti-doping procedures.”

The IOC was contacted for comment.

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AP Summer Olympics: https://apnews.com/hub/2024-paris-olympic-games