While they are no longer overseeing the tournament, the International Boxing Association will play a key role in the upcoming Summer Olympics.
According to ESPN, the IBA will offer prize money to all boxers competing at the Paris Games. The IBA was stripped of organizing the tournament by the International Olympic Committee last year.
“Paris gold medalists in the boxing tournament will receive a substantial financial reward of $100,000,” IBA president Umar Kremlev said. “Out of this amount, the athlete will receive $50,000, their National Federation will receive $25,000 and their coach will receive $25,000.”
This comes on the heels of the World Athletics stating they would offer $50,000 in prize money to Olympic champions.
“Our athletes and their efforts must be appreciated,” Kremlev said. “The IBA offers opportunities and invests considerably in our boxers.
“They remain as the focal point and we will continue to support them at all levels.”
For winning silver, athletes will receive $50,000, while bronze medalists earn $25,000.
Olympics Could Push Boxing Out
As it stands, this could be the last Olympics with boxing for the foreseeable future. The sport is not on the initial program for the 2028 event in Los Angeles.
There have been rumors of mixed martial arts taking to the Olympics. That remains just a rumor for the time being.
However, with the growth of MMA and the international expansion of the sport, it would make sense for the future.
