IBA president Kremlev defends divisive prize money scheme despite IOC pushback

International Boxing Association News

IBA president Kremlev defends divisive prize money scheme despite IOC pushback
International Olympic CommitteeParis Olympics
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The International Boxing Association 's plans to offer prize money to medallists at the Paris Games could widen the rift in the governance of amateur boxing after the announcement drew sharp criticism from the International Olympic Committee .The IBA's move follows World Athletics' announcement last month that they would offer $50,000 in prize money to Olympic champions, starting in Paris this year.

It said the prize money would be handed out in a ceremony at the next IBA Congress, which will be held in November or December.The IOC said they had taken note of the IBA's announcement but questioned the source of the funds."This total lack of financial transparency was exactly one of the reasons why the IOC withdrew its recognition of the IBA," it said.

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International Olympic Committee Paris Olympics

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